Silvercrest Asset Management Group LLC Lowers Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Silvercrest Asset Management Group LLC lowered its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,232 shares of the company’s stock after selling 55,069 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.76% of Freshpet worth $42,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Freshpet during the 4th quarter valued at approximately $40,327,000. Jennison Associates LLC increased its holdings in Freshpet by 36.6% in the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Freshpet by 211.6% in the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after purchasing an additional 234,836 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Freshpet by 3,434.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock valued at $19,635,000 after purchasing an additional 219,913 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Freshpet during the first quarter valued at about $17,845,000.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 6,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $11,368,333.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 13,560 shares of company stock worth $1,701,580. 3.60% of the stock is owned by insiders.

Freshpet Stock Performance

FRPT traded down $1.77 on Tuesday, reaching $118.69. The stock had a trading volume of 199,064 shares, compared to its average volume of 595,022. The company has a market cap of $5.75 billion, a P/E ratio of 669.26 and a beta of 1.36. Freshpet, Inc. has a 12-month low of $54.60 and a 12-month high of $136.35. The business’s 50-day moving average price is $127.27 and its two-hundred day moving average price is $112.21. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.43. The firm had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. Sell-side analysts forecast that Freshpet, Inc. will post 0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FRPT shares. StockNews.com raised Freshpet to a “sell” rating in a research note on Saturday, May 4th. TD Cowen upped their price target on shares of Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Benchmark increased their price objective on shares of Freshpet from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Citigroup boosted their target price on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Finally, Redburn Atlantic raised shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $133.76.

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.