Alberta Investment Management Corp Purchases New Stake in Freshpet, Inc. $FRPT

Alberta Investment Management Corp bought a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 759,600 shares of the company’s stock, valued at approximately $41,862,000. Freshpet accounts for approximately 0.4% of Alberta Investment Management Corp’s investment portfolio, making the stock its 24th largest position. Alberta Investment Management Corp owned about 1.56% of Freshpet as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its stake in Freshpet by 58.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,187 shares of the company’s stock valued at $1,939,000 after buying an additional 13,000 shares during the period. PNC Financial Services Group Inc. grew its stake in Freshpet by 29.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,283 shares of the company’s stock valued at $181,000 after purchasing an additional 750 shares in the last quarter. Public Sector Pension Investment Board increased its position in Freshpet by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock worth $10,487,000 after purchasing an additional 24,045 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Freshpet in the 3rd quarter worth about $1,467,000. Finally, ING Groep NV purchased a new stake in shares of Freshpet during the 3rd quarter worth about $6,354,000.

Freshpet Trading Up 1.8%

Shares of FRPT stock opened at $72.97 on Thursday. The firm has a market capitalization of $3.56 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.72. Freshpet, Inc. has a 1 year low of $46.76 and a 1 year high of $132.86. The firm’s fifty day simple moving average is $66.10 and its 200 day simple moving average is $59.46. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36.

Analyst Ratings Changes

Several brokerages recently commented on FRPT. Jefferies Financial Group reissued a “hold” rating and issued a $56.00 price target on shares of Freshpet in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Monday, December 15th. Stifel Nicolaus decreased their target price on shares of Freshpet from $90.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Weiss Ratings upgraded shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 29th. Finally, Bank of America boosted their price target on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Freshpet currently has a consensus rating of “Hold” and a consensus target price of $73.60.

Insider Activity

In other news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the transaction, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.43% of the company’s stock.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.