Point72 DIFC Ltd Invests $817,000 in Freshpet, Inc. (NASDAQ:FRPT)

Point72 DIFC Ltd acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,975 shares of the company’s stock, valued at approximately $817,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FRPT. WCM Investment Management LLC boosted its holdings in shares of Freshpet by 749.7% in the third quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after acquiring an additional 2,445,199 shares during the period. Dimensional Fund Advisors LP grew its stake in Freshpet by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock valued at $119,492,000 after acquiring an additional 22,759 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Freshpet by 24.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock worth $93,327,000 after acquiring an additional 141,615 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after purchasing an additional 154,909 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Freshpet by 391.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after purchasing an additional 186,889 shares during the period.

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 stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott James Morris sold 5,000 shares of the business’s 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 completion of the sale, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. This trade represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FRPT. Robert W. Baird lifted their price objective on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of Freshpet in a research report on Friday, November 1st. DA Davidson raised their target price on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. 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. Finally, JPMorgan Chase & Co. raised their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Stock Down 1.4 %

Shares of NASDAQ FRPT opened at $154.23 on Friday. The firm has a fifty day simple moving average of $145.27 and a two-hundred day simple moving average of $135.47. Freshpet, Inc. has a 12 month low of $71.66 and a 12 month high of $160.91. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $7.49 billion, a PE ratio of 173.29 and a beta of 1.41.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The business had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same period last year, the business posted ($0.15) earnings per share. Freshpet’s quarterly revenue was up 26.3% compared to the same quarter last year. Equities analysts expect that Freshpet, Inc. will post 0.87 earnings per share 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.