Icon Wealth Advisors LLC Grows Position in Freshpet, Inc. (NASDAQ:FRPT)

Icon Wealth Advisors LLC raised its position in Freshpet, Inc. (NASDAQ:FRPT) by 529.5% in the third quarter, Holdings Channel reports. The fund owned 13,200 shares of the company’s stock after buying an additional 11,103 shares during the period. Icon Wealth Advisors LLC’s holdings in Freshpet were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Freshpet in the 3rd quarter valued at about $29,000. ORG Partners LLC purchased a new position in Freshpet in the second quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Freshpet by 3,670.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after buying an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Freshpet in the 2nd quarter valued at $52,000.

Insider Buying and Selling at Freshpet

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several research analyst reports. DA Davidson lifted their price target on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped their target price on Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen raised their target price on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Truist Financial lifted their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Stock Performance

NASDAQ FRPT opened at $156.76 on Friday. The business has a 50 day moving average price of $142.30 and a 200 day moving average price of $133.28. The company has a market capitalization of $7.61 billion, a P/E ratio of 176.14 and a beta of 1.39. Freshpet, Inc. has a 1-year low of $68.22 and a 1-year high of $159.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter last year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. Sell-side analysts expect that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Freshpet 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.