Western Standard LLC Purchases New Holdings in Freshpet, Inc. $FRPT

Western Standard LLC acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 127,300 shares of the company’s stock, valued at approximately $7,526,000. Freshpet accounts for approximately 2.5% of Western Standard LLC’s investment portfolio, making the stock its 12th biggest position. Western Standard LLC owned 0.26% of Freshpet as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FRPT. Wasatch Advisors LP boosted its position in shares of Freshpet by 41.0% during the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock valued at $260,921,000 after buying an additional 1,116,217 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Freshpet by 1,031.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company’s stock worth $56,781,000 after buying an additional 1,031,905 shares during the period. Armistice Capital LLC raised its holdings in shares of Freshpet by 118.4% in the third quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock worth $68,050,000 after buying an additional 669,399 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Freshpet by 122.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock worth $72,953,000 after acquiring an additional 658,114 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Freshpet by 278.5% during the 2nd quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock worth $58,444,000 after acquiring an additional 632,756 shares during the last quarter.

Freshpet Stock Up 3.3%

Shares of NASDAQ FRPT opened at $75.03 on Thursday. Freshpet, Inc. has a 52-week low of $46.45 and a 52-week high of $86.00. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 19.74 and a beta of 1.61. The stock has a 50 day moving average price of $59.72 and a 200 day moving average price of $62.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 6.05.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.22 by $0.17. The company had revenue of $305.59 million for the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.Freshpet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Sell-side analysts expect that Freshpet, Inc. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on FRPT. Morgan Stanley reaffirmed an “equal weight” rating and issued a $72.00 price objective (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Stifel Nicolaus boosted their target price on shares of Freshpet from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. DA Davidson lowered their target price on shares of Freshpet from $101.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Freshpet from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.31.

Insider Activity at Freshpet

In other news, CEO William B. Cyr sold 42,495 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the transaction, the chief executive officer owned 224,459 shares in the company, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 90,881 shares of company stock worth $5,598,918 in the last 90 days. Company insiders own 4.30% of the company’s stock.

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.