Landscape Capital Management L.L.C. Invests $1.62 Million in Freshpet, Inc. $FRPT

Landscape Capital Management L.L.C. bought a new position in Freshpet, Inc. (NASDAQ:FRPT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,644 shares of the company’s stock, valued at approximately $1,623,000. Landscape Capital Management L.L.C. owned about 0.05% of Freshpet at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FRPT. JANA Partners Management LP boosted its position in shares of Freshpet by 4.1% during the third quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after buying an additional 41,373 shares during the last quarter. Western Standard LLC purchased a new stake in shares of Freshpet during the third quarter valued at $3,527,000. Vanguard Group Inc. boosted its position in shares of Freshpet by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock valued at $321,822,000 after buying an additional 128,499 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Freshpet by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock valued at $10,487,000 after buying an additional 24,045 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Freshpet by 30.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after buying an additional 461,444 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FRPT shares. Jefferies Financial Group dropped their price objective on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating on shares of Freshpet in a research note on Monday. Bank of America decreased their price objective on Freshpet from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $63.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $77.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $74.88.

Insider Buying and Selling at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total value of $2,056,103.44. Following the transaction, the chief executive officer directly owned 204,585 shares of the company’s stock, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. Corporate insiders own 4.30% of the company’s stock.

Freshpet Trading Up 3.5%

FRPT opened at $54.49 on Tuesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 14.57 and a beta of 1.63. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 12 month low of $46.45 and a 12 month high of $86.00. The stock has a fifty day moving average price of $57.12 and a 200-day moving average price of $63.86.

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.