Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lowered its position in Freshpet, Inc. (NASDAQ:FRPTFree Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,197 shares of the company’s stock after selling 860 shares during the period. Treasurer of the State of North Carolina’s holdings in Freshpet were worth $1,666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Freshpet by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after buying an additional 185,210 shares during the last quarter. JANA Partners Management LP acquired a new position in Freshpet during the third quarter worth about $214,405,000. William Blair Investment Management LLC lifted its holdings in shares of Freshpet by 4.2% in the third quarter. William Blair Investment Management LLC now owns 2,740,708 shares of the company’s stock valued at $180,558,000 after purchasing an additional 110,383 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Freshpet by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock valued at $139,576,000 after purchasing an additional 17,678 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Freshpet by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock valued at $146,602,000 after purchasing an additional 117,864 shares during the last quarter.

Wall Street Analyst Weigh In

FRPT has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. StockNews.com upgraded Freshpet to a “sell” rating in a research report on Saturday, May 4th. Oppenheimer increased their price objective on Freshpet from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and boosted their target price for the company from $120.00 to $135.00 in a research note on Monday, March 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Freshpet in a research note on Thursday, May 23rd. They set a “buy” rating and a $150.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.63.

Check Out Our Latest Stock Report on Freshpet

Insider Buying and Selling at Freshpet

In other news, COO Scott James Morris sold 3,632 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at $13,444,666.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Stephen Macchiaverna sold 6,548 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.15, for a total value of $786,742.20. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $10,337,585.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Scott James Morris sold 3,632 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $109.86, for a total transaction of $399,011.52. Following the sale, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,444,666.80. The disclosure for this sale can be found here. Insiders have sold a total of 17,192 shares of company stock valued at $2,100,591 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT stock opened at $127.05 on Friday. The company’s fifty day moving average price is $117.85 and its two-hundred day moving average price is $99.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09. The firm has a market capitalization of $6.15 billion, a P/E ratio of 705.87 and a beta of 1.33. Freshpet, Inc. has a 12 month low of $54.60 and a 12 month high of $132.84.

Freshpet (NASDAQ:FRPTGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million for the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. On average, research analysts anticipate that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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