Maryland State Retirement & Pension System Reduces Holdings in Freshpet, Inc. $FRPT

Maryland State Retirement & Pension System cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 44.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,188 shares of the company’s stock after selling 7,322 shares during the period. Maryland State Retirement & Pension System’s holdings in Freshpet were worth $506,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares in the last quarter. State of Wyoming purchased a new position in shares of Freshpet in the second quarter worth about $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Freshpet in the second quarter valued at approximately $35,000. Ossiam raised its holdings in Freshpet by 81.1% during the 2nd quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Freshpet by 258.9% during the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock valued at $37,000 after acquiring an additional 391 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America upped their target price on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Morgan Stanley initiated coverage on Freshpet in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $71.00 price objective for the company. Truist Financial dropped their price target on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Stifel Nicolaus lowered their price objective on shares of Freshpet from $90.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.75.

Freshpet Trading Up 3.9%

Freshpet stock opened at $72.60 on Friday. Freshpet, Inc. has a 52-week low of $46.76 and a 52-week high of $164.07. The company has a market cap of $3.54 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.71 and a beta of 1.71. The company has a quick ratio of 4.61, a current ratio of 5.52 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $61.34 and a two-hundred day simple moving average of $59.58.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $0.43 by $1.43. The firm had revenue of $288.85 million for the quarter, compared to analysts’ expectations of $283.73 million. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. Analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 63,135 shares of Freshpet stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $55.21, for a total transaction of $3,485,683.35. Following the transaction, the president owned 160,476 shares in the company, valued at $8,859,879.96. This trade represents a 28.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.43% of the stock is owned by corporate insiders.

Freshpet Company Profile

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.