Illinois Municipal Retirement Fund Makes New Investment in Freshpet, Inc. $FRPT

Illinois Municipal Retirement Fund purchased a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,620 shares of the company’s stock, valued at approximately $1,467,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Freshpet as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Freshpet by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 42,582 shares of the company’s stock worth $2,894,000 after purchasing an additional 160 shares during the period. Ossiam increased its stake in Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Freshpet by 1.4% during the 2nd quarter. Yousif Capital Management LLC now owns 18,408 shares of the company’s stock worth $1,251,000 after buying an additional 253 shares during the period. Amalgamated Bank lifted its stake in Freshpet by 1.8% during the third quarter. Amalgamated Bank now owns 15,226 shares of the company’s stock valued at $839,000 after buying an additional 275 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Freshpet by 4.3% during the second quarter. Teacher Retirement System of Texas now owns 7,028 shares of the company’s stock valued at $478,000 after buying an additional 288 shares in the last quarter.

Insider Transactions at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the transaction, the president owned 30,858 shares in the company, valued at $1,923,379.14. This represents a 14.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.43% of the stock is owned by company insiders.

Analyst Ratings Changes

FRPT has been the topic of several analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $56.00 target price on shares of Freshpet in a research report on Tuesday, November 4th. Bank of America lifted their price objective on shares of Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Robert W. Baird cut their target price on shares of Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Piper Sandler raised their target price on Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company lifted their price target on Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.60.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $71.69 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. Freshpet, Inc. has a one year low of $46.76 and a one year high of $132.86. The business’s 50-day moving average price is $65.91 and its two-hundred day moving average price is $59.37. The company has a market capitalization of $3.50 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.72.

Freshpet Company Profile

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.