Mutual of America Capital Management LLC Sells 32,210 Shares of Freshpet, Inc. $FRPT

Mutual of America Capital Management LLC cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 85.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,464 shares of the company’s stock after selling 32,210 shares during the period. Mutual of America Capital Management LLC’s holdings in Freshpet were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Freshpet by 0.4% in 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 last quarter. Maryland State Retirement & Pension System increased its position in shares of Freshpet by 1.2% during the second quarter. Maryland State Retirement & Pension System now owns 16,510 shares of the company’s stock worth $1,122,000 after purchasing an additional 189 shares in the last quarter. Ossiam raised its stake in Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Freshpet by 1.4% in the second 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 last quarter. Finally, Amalgamated Bank increased its holdings in Freshpet by 1.8% in the 3rd quarter. Amalgamated Bank now owns 15,226 shares of the company’s stock worth $839,000 after buying an additional 275 shares during the period.

Freshpet Trading Down 2.6%

Shares of FRPT stock opened at $67.37 on Friday. The firm’s 50-day simple moving average is $64.59 and its 200-day simple moving average is $59.60. The firm has a market cap of $3.29 billion, a P/E ratio of 29.42, a PEG ratio of 1.69 and a beta of 1.72. 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 1-year low of $46.76 and a 1-year high of $151.35.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 3rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $1.43. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business had revenue of $288.85 million for the quarter, compared to the consensus estimate of $283.73 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial dropped their price target on Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. DA Davidson lowered their price target on Freshpet from $101.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. TD Cowen reissued a “hold” rating on shares of Freshpet in a research report on Thursday, January 8th. Finally, Stifel Nicolaus dropped their price objective on shares of Freshpet from $90.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.88.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the sale, the president owned 30,858 shares in the company, valued at $1,923,379.14. This represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.43% of the stock is currently owned by company insiders.

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.