Congress Asset Management Co. Purchases Shares of 2,010 Freshpet, Inc. (NASDAQ:FRPT)

Congress Asset Management Co. purchased a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,010 shares of the company's stock, valued at approximately $298,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FRPT. WCM Investment Management LLC grew its stake in shares of Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company's stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after purchasing an additional 253,679 shares during the period. Point72 Asset Management L.P. grew its stake in Freshpet by 391.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company's stock valued at $32,090,000 after acquiring an additional 186,889 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company's stock valued at $60,135,000 after acquiring an additional 154,909 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in Freshpet by 38.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 199,592 shares of the company's stock valued at $27,298,000 after acquiring an additional 55,200 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Freshpet from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Citigroup lowered their price objective on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Robert W. Baird increased their price objective on shares of Freshpet from $157.00 to $170.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. TD Cowen increased their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, DA Davidson increased their price objective on shares of Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.93.

Freshpet Trading Down 5.8 %

Shares of FRPT stock traded down $6.14 during trading hours on Friday, hitting $100.26. 3,563,843 shares of the company were exchanged, compared to its average volume of 928,231. The firm has a market cap of $4.87 billion, a PE ratio of 112.65 and a beta of 1.42. Freshpet, Inc. has a 1 year low of $89.15 and a 1 year high of $164.07. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average of $146.48 and a 200 day moving average of $143.06.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. Analysts expect that Freshpet, Inc. will post 0.89 earnings per share for the current year.

Insider Transactions at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total transaction of $786,900.00. Following the transaction, the president now directly owns 122,380 shares of the company's stock, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.

Freshpet 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.