Freshpet, Inc. (NASDAQ:FRPT) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 36.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,657 shares of the company’s stock after purchasing an additional 28,743 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Freshpet worth $15,945,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lecap Asset Management Ltd. bought a new stake in shares of Freshpet during the 4th quarter worth about $817,000. Geode Capital Management LLC raised its holdings in Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after purchasing an additional 37,287 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Freshpet during the third quarter worth approximately $1,465,000. Geneva Capital Management LLC lifted its position in Freshpet by 166.2% in the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after purchasing an additional 52,584 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares in the last quarter.

Insider Activity at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the firm’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 of the company’s stock, valued at $19,260,164.40. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Oppenheimer cut their price objective on Freshpet from $180.00 to $140.00 and set an “outperform” rating for the company in a report on Monday. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Robert W. Baird raised their target price on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Truist Financial restated a “buy” rating and issued a $140.00 price target (down previously from $170.00) on shares of Freshpet in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.47.

Freshpet Trading Down 0.5 %

NASDAQ:FRPT opened at $107.04 on Wednesday. The stock has a market cap of $5.21 billion, a PE ratio of 113.87 and a beta of 1.42. Freshpet, Inc. has a fifty-two week low of $97.48 and a fifty-two week high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock’s 50-day moving average is $143.97 and its two-hundred day moving average is $142.83.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, equities research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal 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.