AMI Asset Management Corp Sells 89 Shares of Freshpet, Inc. (NASDAQ:FRPT)

AMI Asset Management Corp cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 3.1% in the fourth quarter, Holdings Channel reports. The fund owned 2,800 shares of the company’s stock after selling 89 shares during the quarter. AMI Asset Management Corp’s holdings in Freshpet were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FRPT. Transcendent Capital Group LLC acquired a new position in shares of Freshpet in the third quarter valued at about $1,465,000. Geode Capital Management LLC grew its stake in Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after acquiring an additional 37,287 shares during the period. Geneva Capital Management LLC increased its holdings in Freshpet by 166.2% in the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after acquiring an additional 52,584 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after purchasing an additional 154,909 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Freshpet by 119.1% in the second quarter. AQR Capital Management LLC now owns 69,354 shares of the company’s stock valued at $8,876,000 after acquiring an additional 37,702 shares in the last quarter.

Freshpet Price Performance

NASDAQ FRPT opened at $156.96 on Tuesday. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.62 billion, a PE ratio of 176.36 and a beta of 1.41. Freshpet, Inc. has a 1 year low of $83.77 and a 1 year high of $160.91. The stock’s 50-day moving average price is $149.91 and its two-hundred day moving average price is $139.69.

Freshpet (NASDAQ:FRPT) last issued its 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. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. On average, analysts predict that Freshpet, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus raised their target price on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird lifted their price objective on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial lifted their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen increased their target price on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.36.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the firm’s 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 completion of the sale, the president now owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock valued at $1,962,175 in the last 90 days. 3.70% of the stock is currently owned by insiders.

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.