Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,913 shares of the company’s stock after acquiring an additional 966 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Freshpet were worth $1,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FRPT. GAMMA Investing LLC raised its stake 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 last quarter. CWM LLC raised its stake in shares of Freshpet by 65.9% during the 2nd quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after buying an additional 197 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Freshpet during the 2nd quarter worth approximately $3,964,000. M&G Plc purchased a new position in shares of Freshpet during the 2nd quarter worth approximately $8,892,000. Finally, ORG Partners LLC purchased a new position in shares of Freshpet during the 2nd quarter worth approximately $32,000.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $156.42 on Thursday. The business’s fifty day moving average price is $144.91 and its two-hundred day moving average price is $135.34. The stock has a market cap of $7.59 billion, a PE ratio of 175.75 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. Freshpet, Inc. has a one year low of $71.22 and a one year high of $160.91.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial increased their target price on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, TD Cowen upped their price target on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Insiders Place Their Bets

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Scott James Morris sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the transaction, the president now directly owns 122,380 shares in the company, valued at approximately $19,351,949.40. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

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.