Oppenheimer & Co. Inc. Takes Position in Freshpet Inc (NASDAQ:FRPT)
Oppenheimer & Co. Inc. bought a new stake in shares of Freshpet Inc (NASDAQ:FRPT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,305 shares of the company’s stock, valued at approximately $241,000.
Several other institutional investors have also made changes to their positions in FRPT. FMR LLC grew its stake in shares of Freshpet by 749.2% during the first quarter. FMR LLC now owns 2,538,489 shares of the company’s stock valued at $107,353,000 after acquiring an additional 2,239,553 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Freshpet during the second quarter valued at about $26,907,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Freshpet during the second quarter valued at about $24,958,000. Champlain Investment Partners LLC acquired a new stake in shares of Freshpet during the first quarter valued at about $21,016,000. Finally, Redwood Investments LLC acquired a new stake in shares of Freshpet during the second quarter valued at about $9,884,000. Institutional investors own 98.32% of the company’s stock.
Shares of FRPT stock traded up $0.15 during trading hours on Friday, hitting $50.61. 5,634 shares of the company were exchanged, compared to its average volume of 337,196. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.00 and a current ratio of 1.51. Freshpet Inc has a one year low of $28.44 and a one year high of $51.85. The business’s 50-day simple moving average is $44.54 and its two-hundred day simple moving average is $44.31. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -337.47 and a beta of 1.08.
In other Freshpet news, Director J David Basto bought 6,400 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $38.61 per share, with a total value of $247,104.00. Following the completion of the acquisition, the director now directly owns 23,721 shares of the company’s stock, valued at approximately $915,867.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Freshpet in a research note on Tuesday, July 30th. They set a “neutral” rating and a $46.00 target price for the company. BidaskClub raised shares of Freshpet from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. DA Davidson assumed coverage on shares of Freshpet in a research report on Wednesday, June 19th. They set a “buy” rating and a $60.00 price target on the stock. SunTrust Banks reduced their price target on shares of Freshpet to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Freshpet presently has a consensus rating of “Hold” and a consensus price target of $46.17.
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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