Seven Eight Capital LP Takes Position in Freshpet, Inc. (NASDAQ:FRPT)

Seven Eight Capital LP bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 2,020 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of Freshpet during the fourth quarter worth approximately $29,000. GAMMA Investing LLC increased its holdings in Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after buying an additional 132 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in Freshpet during the first quarter valued at approximately $36,000. Quarry LP bought a new position in Freshpet during the fourth quarter worth $40,000. Finally, Whittier Trust Co. acquired a new position in Freshpet in the first quarter worth $41,000.

Analyst Ratings Changes

FRPT has been the topic of a number of recent research reports. DA Davidson raised their price target on shares of Freshpet from $138.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Citigroup upped their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. TD Cowen boosted their price objective on Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Redburn Atlantic raised Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Thursday, May 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 price target on shares of Freshpet in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.76.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 1,012 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $120.61, for a total value of $122,057.32. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $10,377,163.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 13,560 shares of company stock worth $1,701,580. Corporate insiders own 3.60% of the company’s stock.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $116.43 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 646.87 and a beta of 1.36. The stock’s 50 day moving average price is $128.02 and its 200 day moving average price is $111.27. Freshpet, Inc. has a 12 month low of $54.60 and a 12 month high of $136.35.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.43. The company had revenue of $223.85 million during the quarter, compared to analyst estimates of $216.43 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. Equities research analysts anticipate that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.