Principal Financial Group Inc. Sells 13,505 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Principal Financial Group Inc. lessened its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,914 shares of the company's stock after selling 13,505 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Freshpet worth $10,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in Freshpet during the third quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet during the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. increased its stake in Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company's stock valued at $49,000 after acquiring an additional 367 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Freshpet in the second quarter worth about $52,000. Finally, Brooklyn Investment Group acquired a new position in Freshpet in the third quarter worth about $54,000.

Freshpet Trading Up 2.1 %

Shares of Freshpet stock traded up $3.13 on Monday, hitting $149.49. 942,379 shares of the company's stock traded hands, compared to its average volume of 571,680. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a one year low of $82.16 and a one year high of $160.91. The firm's 50-day moving average price is $147.48 and its two-hundred day moving average price is $137.47. The stock has a market capitalization of $7.26 billion, a PE ratio of 167.97 and a beta of 1.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.10. The company 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 revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. On average, research analysts expect that Freshpet, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FRPT. StockNews.com lowered Freshpet from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Oppenheimer upped their price objective on shares of Freshpet from $155.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a "buy" rating and issued a $150.00 target price on shares of Freshpet in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.36.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was 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. Over the last ninety days, insiders have sold 12,500 shares of company stock worth $1,962,175. Corporate insiders own 3.70% of the company's stock.

Freshpet Company 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.