KBC Group NV trimmed its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 42.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,397 shares of the company's stock after selling 10,472 shares during the quarter. KBC Group NV's holdings in Freshpet were worth $2,132,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in shares of Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock worth $30,000 after purchasing an additional 151 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Freshpet in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new position in Freshpet in the 3rd quarter valued at about $32,000. Brooklyn Investment Group acquired a new stake in shares of Freshpet during the third quarter valued at about $54,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Freshpet during the third quarter worth about $57,000.
Insider Transactions at Freshpet
In related news, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total transaction of $790,650.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. This represents a 3.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $1,962,175. Company insiders own 3.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Freshpet from $126.00 to $154.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Freshpet from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their target price on Freshpet from $157.00 to $170.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price target on Freshpet from $157.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Oppenheimer upped their price objective on Freshpet from $155.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Freshpet has an average rating of "Moderate Buy" and an average target price of $163.36.
View Our Latest Stock Analysis on FRPT
Freshpet Stock Performance
Shares of FRPT traded down $6.09 during mid-day trading on Wednesday, hitting $149.53. The company's stock had a trading volume of 892,479 shares, compared to its average volume of 574,899. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The firm has a market capitalization of $7.26 billion, a PE ratio of 168.01 and a beta of 1.42. The stock's 50-day moving average is $150.96 and its two-hundred day moving average is $142.30. Freshpet, Inc. has a one year low of $84.02 and a one year high of $164.07.
Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The firm had revenue of $253.40 million during the quarter, compared to analysts' expectations of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. Freshpet's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.9 EPS for the current year.
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.
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