Freshpet, Inc. $FRPT Stake Decreased by Fort Point Capital Partners LLC

Fort Point Capital Partners LLC lowered its position in Freshpet, Inc. (NASDAQ:FRPT) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 336,974 shares of the company’s stock after selling 10,898 shares during the period. Freshpet accounts for about 2.2% of Fort Point Capital Partners LLC’s investment portfolio, making the stock its 10th largest holding. Fort Point Capital Partners LLC’s holdings in Freshpet were worth $18,571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Divisadero Street Capital Management LP purchased a new position in shares of Freshpet in the 3rd quarter valued at approximately $3,063,000. Brevan Howard Capital Management LP purchased a new stake in Freshpet in the third quarter worth $1,018,000. Bridgefront Capital LLC bought a new position in Freshpet in the third quarter worth $887,000. California Public Employees Retirement System raised its holdings in Freshpet by 7.2% in the third quarter. California Public Employees Retirement System now owns 66,965 shares of the company’s stock worth $3,690,000 after purchasing an additional 4,495 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Freshpet by 388.7% during the third quarter. Ameriprise Financial Inc. now owns 753,822 shares of the company’s stock valued at $41,543,000 after buying an additional 599,568 shares during the period.

Freshpet Trading Down 1.8%

Freshpet stock opened at $76.60 on Monday. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $91.25. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.66. The business’s fifty day simple moving average is $72.17 and its two-hundred day simple moving average is $61.67. The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, equities analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

FRPT has been the topic of a number of research reports. Benchmark boosted their target price on shares of Freshpet from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. TD Cowen set a $60.00 price target on shares of Freshpet in a research note on Tuesday, February 24th. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company boosted their price objective on shares of Freshpet from $82.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, DA Davidson set a $98.00 price objective on shares of Freshpet in a report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.47.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.