Deepwater Asset Management LLC Lowers Position in Freshpet, Inc. $FRPT

Deepwater Asset Management LLC decreased its position in Freshpet, Inc. (NASDAQ:FRPT) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,792 shares of the company’s stock after selling 31,509 shares during the period. Freshpet comprises 2.8% of Deepwater Asset Management LLC’s portfolio, making the stock its 15th largest holding. Deepwater Asset Management LLC owned 0.33% of Freshpet worth $9,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming purchased a new stake in Freshpet during the second quarter worth about $34,000. Signaturefd LLC boosted its holdings in Freshpet by 143.0% during the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after buying an additional 296 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after buying an additional 472 shares in the last quarter. Ossiam boosted its holdings in Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after buying an additional 228 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in Freshpet during the fourth quarter worth about $32,000.

Freshpet Stock Performance

Shares of FRPT opened at $49.74 on Monday. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.44 billion, a P/E ratio of 13.30 and a beta of 1.63. The company has a 50-day moving average of $57.86 and a two-hundred day moving average of $63.93. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.00.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stifel Nicolaus set a $66.00 price objective on shares of Freshpet in a report on Thursday, May 7th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Wednesday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $77.00 price objective on shares of Freshpet in a report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of Freshpet from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $66.00 to $68.00 in a report on Thursday, May 7th. Finally, Jefferies Financial Group decreased their price objective on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell 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 $74.88.

Insider Transactions at Freshpet

In other Freshpet news, CEO William B. Cyr sold 42,907 shares of Freshpet stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the transaction, the chief executive officer owned 204,585 shares in the company, valued at approximately $9,803,713.20. The trade was a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. Insiders own 4.30% of the company’s stock.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.