TimesSquare Capital Management LLC Raises Position in Freshpet, Inc. (NASDAQ:FRPT)

TimesSquare Capital Management LLC grew its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,187 shares of the company’s stock after purchasing an additional 43,595 shares during the period. TimesSquare Capital Management LLC owned approximately 0.50% of Freshpet worth $36,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in Freshpet in the 4th quarter worth approximately $817,000. Geode Capital Management LLC raised its stake in Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Freshpet in the 3rd quarter valued at $1,465,000. Geneva Capital Management LLC increased its stake in shares of Freshpet by 166.2% in the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after acquiring an additional 52,584 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after acquiring an additional 253,679 shares during the last quarter.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares in the company, valued at $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Freshpet Stock Performance

Freshpet stock opened at $131.99 on Wednesday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 148.31 and a beta of 1.42. 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 stock has a fifty day moving average price of $147.90 and a 200 day moving average price of $143.34. Freshpet, Inc. has a 52 week low of $87.87 and a 52 week high of $164.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FRPT. TD Cowen increased 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. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer raised their target price on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Robert W. Baird lifted their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and an average price target of $164.29.

About Freshpet

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.