Savoir Faire Capital Management L.P. Boosts Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Savoir Faire Capital Management L.P. grew its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 119.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,391 shares of the company’s stock after buying an additional 29,091 shares during the quarter. Freshpet accounts for approximately 3.7% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 5th biggest holding. Savoir Faire Capital Management L.P. owned 0.11% of Freshpet worth $7,302,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in shares of Freshpet in the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new stake in Freshpet during the 2nd quarter valued at $32,000. GAMMA Investing LLC raised its holdings in Freshpet by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after acquiring an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after acquiring an additional 367 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Freshpet during the 2nd quarter valued at $52,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FRPT. DA Davidson boosted their target price on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.80.

Insiders Place Their Bets

In related news, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Freshpet Price Performance

FRPT stock opened at $150.49 on Tuesday. Freshpet, Inc. has a 1 year low of $68.22 and a 1 year high of $159.12. The company has a market cap of $7.30 billion, a P/E ratio of 169.09 and a beta of 1.39. The firm has a 50-day moving average of $141.26 and a 200 day moving average of $132.65. 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 released its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. Freshpet’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, sell-side analysts forecast that Freshpet, Inc. will post 0.87 EPS for the current year.

Freshpet Company 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.