Freshpet, Inc. $FRPT Shares Sold by Cynosure Group LLC

Cynosure Group LLC reduced its stake in Freshpet, Inc. by 68.7% in Q2, now holding 5,093 shares worth $346,000. Freshpet's Q2 earnings were strong, with a 14% revenue increase and $1.86 EPS. Several other investors also modified their holdings. Freshpet's stock opened at $53.62 with a market cap of $2.62 billion. Insider transactions included purchases by Directors Jacki Sue Kelley and Timothy R. Mclevish. Analysts have adjusted their price targets for Freshpet.

Cynosure Group LLC trimmed its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 68.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,093 shares of the company's stock after selling 11,158 shares during the quarter. Cynosure Group LLC's holdings in Freshpet were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Freshpet's Impressive Q2 Sparks Optimism Despite Market Fears

Several other hedge funds and other institutional investors also recently modified their holdings of FRPT. Banque Transatlantique SA purchased a new stake in shares of Freshpet during the first quarter worth approximately $25,000. WPG Advisers LLC purchased a new position in Freshpet in the 1st quarter valued at $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Freshpet in the 2nd quarter valued at $35,000. Blue Trust Inc. increased its stake in Freshpet by 100.7% in the 2nd quarter. Blue Trust Inc. now owns 833 shares of the company's stock valued at $57,000 after buying an additional 418 shares during the period. Finally, GAMMA Investing LLC raised its position in Freshpet by 283.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock worth $99,000 after buying an additional 1,078 shares during the last quarter.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $53.62 on Tuesday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 0.73 and a beta of 1.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The business's 50 day simple moving average is $52.93 and its 200-day simple moving average is $63.85. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $164.07.

Freshpet Surges 10%: Fresh Highs to Come for This Pet Stock

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $1.43. The firm had revenue of $288.85 million during the quarter, compared to analysts' expectations of $283.73 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.Freshpet's revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, equities analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, Director Jacki Sue Kelley bought 814 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was bought at an average price of $56.50 per share, for a total transaction of $45,991.00. Following the completion of the transaction, the director owned 11,907 shares in the company, valued at approximately $672,745.50. The trade was a 7.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy R. Mclevish purchased 3,500 shares of Freshpet stock in a transaction on Wednesday, September 10th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $196,000.00. Following the acquisition, the director directly owned 35,290 shares of the company's stock, valued at approximately $1,976,240. This represents a 11.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 6,008 shares of company stock worth $332,305. Corporate insiders own 4.43% of the company's stock.

Analysts Set New Price Targets

Here’s The One Pet Stock That’s Not in the Doghouse

FRPT has been the topic of several analyst reports. Bank of America reaffirmed a "neutral" rating and issued a $60.00 target price (down previously from $81.00) on shares of Freshpet in a report on Wednesday, October 8th. Zacks Research upgraded shares of Freshpet from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 18th. Wells Fargo & Company lowered their price objective on Freshpet from $88.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. cut their target price on Freshpet from $70.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, October 23rd. Finally, DA Davidson reduced their price target on Freshpet from $101.00 to $83.00 and set a "buy" rating for the company in a report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $84.43.

View Our Latest Stock Report on FRPT

Freshpet Company Profile

(Free Report)

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.

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