Elk Creek Partners LLC Has $7.99 Million Stake in Freshpet Inc (FRPT)
Elk Creek Partners LLC cut its holdings in shares of Freshpet Inc (NASDAQ:FRPT) by 38.9% during the first quarter, HoldingsChannel.com reports. The fund owned 188,850 shares of the company’s stock after selling 120,247 shares during the period. Elk Creek Partners LLC’s holdings in Freshpet were worth $7,986,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Advisor Group Inc. grew its position in shares of Freshpet by 1,008.8% during the 1st quarter. Advisor Group Inc. now owns 632 shares of the company’s stock valued at $26,000 after acquiring an additional 575 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Freshpet during the 4th quarter valued at about $58,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Freshpet during the 1st quarter valued at about $120,000. SG Americas Securities LLC purchased a new position in Freshpet in the 1st quarter valued at about $140,000. Finally, Legal & General Group Plc lifted its stake in Freshpet by 28.2% in the 4th quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock valued at $167,000 after buying an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 86.75% of the company’s stock.
Shares of Freshpet stock opened at $45.69 on Tuesday. Freshpet Inc has a twelve month low of $22.50 and a twelve month high of $48.47. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.
In other Freshpet news, insider Scott James Morris sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total value of $2,000,000.00. Following the transaction, the insider now directly owns 181,298 shares of the company’s stock, valued at approximately $7,251,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen Macchiaverna sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the vice president now directly owns 90,860 shares in the company, valued at $3,634,400. The disclosure for this sale can be found here. Insiders sold a total of 4,075,000 shares of company stock worth $157,280,000 over the last ninety days. 5.10% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on FRPT shares. BidaskClub raised shares of Freshpet from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Credit Suisse Group set a $36.00 price target on shares of Freshpet and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Imperial Capital reaffirmed an “in-line” rating and issued a $40.00 price target (up from $35.00) on shares of Freshpet in a research note on Monday, March 4th. TheStreet raised shares of Freshpet from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. Finally, Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Freshpet currently has an average rating of “Buy” and a consensus price target of $40.00.
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Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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