Whittier Trust Co. Purchases New Stake in Freshpet, Inc. (NASDAQ:FRPT)

Whittier Trust Co. acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPTFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 351 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Freshpet by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock worth $139,576,000 after buying an additional 17,678 shares during the period. Sei Investments Co. grew its position in shares of Freshpet by 4.4% in the third quarter. Sei Investments Co. now owns 257,519 shares of the company’s stock valued at $16,965,000 after purchasing an additional 10,832 shares during the last quarter. Diversified Trust Co increased its stake in shares of Freshpet by 3.4% during the third quarter. Diversified Trust Co now owns 19,526 shares of the company’s stock worth $1,286,000 after purchasing an additional 647 shares during the period. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 185,210 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in Freshpet by 17.8% in the 4th quarter. First Hawaiian Bank now owns 7,750 shares of the company’s stock valued at $672,000 after purchasing an additional 1,170 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Stifel Nicolaus boosted their price objective on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 11th. TD Cowen raised their target price on shares of Freshpet from $128.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Freshpet in a research report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 price target on shares of Freshpet in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus target price of $130.25.

Read Our Latest Research Report on FRPT

Freshpet Stock Performance

NASDAQ FRPT opened at $130.00 on Wednesday. The firm’s fifty day moving average price is $126.94 and its two-hundred day moving average price is $108.69. The stock has a market cap of $6.30 billion, a PE ratio of 719.10 and a beta of 1.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $136.35.

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

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.15, for a total value of $786,742.20. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at approximately $10,337,585.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 13,560 shares of company stock worth $1,701,580. Insiders own 3.60% of the company’s stock.

About Freshpet

(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.

Read More

Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet, Inc. (NASDAQ:FRPTFree Report).

Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

Receive News & Ratings for Freshpet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet and related companies with MarketBeat.com's FREE daily email newsletter.