Eurizon Capital SGR S.p.A. acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,470 shares of the company’s stock, valued at approximately $2,526,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JANA Partners Management LP increased its stake in Freshpet by 4.1% in the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after buying an additional 41,373 shares during the last quarter. Western Standard LLC acquired a new stake in Freshpet in the 3rd quarter valued at $3,527,000. ING Groep NV acquired a new stake in Freshpet in the 3rd quarter valued at $6,354,000. Public Sector Pension Investment Board increased its stake in Freshpet by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock valued at $10,487,000 after buying an additional 24,045 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Freshpet by 30.9% in the 4th quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after acquiring an additional 461,444 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on FRPT shares. Morgan Stanley reissued an “overweight” rating and issued a $77.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. DA Davidson lifted their price objective on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Benchmark lifted their price objective on shares of Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. raised shares of Freshpet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $63.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and an average price target of $74.88.
Freshpet Price Performance
Shares of Freshpet stock opened at $49.86 on Wednesday. Freshpet, Inc. has a twelve month low of $46.45 and a twelve month high of $86.00. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $58.85 and a two-hundred day simple moving average of $64.04. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 13.33 and a beta of 1.63.
Insider Activity
In other Freshpet news, CEO William B. Cyr sold 42,495 shares of Freshpet stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the completion of the sale, the chief executive officer owned 224,459 shares in the company, valued at $11,454,142.77. The trade was a 15.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig D. Steeneck acquired 2,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $47.83 per share, with a total value of $95,660.00. Following the purchase, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. This represents a 5.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. 4.30% of the stock is owned by insiders.
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.
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