Wolverine Asset Management LLC Cuts Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Wolverine Asset Management LLC trimmed its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,654 shares of the company’s stock after selling 1,977 shares during the period. Wolverine Asset Management LLC’s holdings in Freshpet were worth $2,319,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in Freshpet during the fourth quarter valued at about $817,000. Geode Capital Management LLC boosted its holdings in shares of Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after purchasing an additional 37,287 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Freshpet in the third quarter worth about $1,465,000. Geneva Capital Management LLC grew its stake in shares of Freshpet by 166.2% in the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after purchasing an additional 52,584 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Freshpet by 198.6% in the fourth 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 last quarter.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction 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 $19,260,164.40. The trade was a 3.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by insiders.

Freshpet Price Performance

FRPT stock opened at $100.26 on Friday. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 112.65 and a beta of 1.42. 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 50 day moving average price of $145.55 and a 200-day moving average price of $142.91. Freshpet, Inc. has a 52-week low of $89.15 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The business had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Equities research analysts forecast that Freshpet, Inc. will post 0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on FRPT. Oppenheimer raised their target price on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Piper Sandler cut their target price on Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company cut their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.93.

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.