OLD National Bancorp IN Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

OLD National Bancorp IN purchased a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,520 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new stake in Freshpet during the 3rd quarter worth about $28,000. Washington Trust Advisors Inc. raised its holdings in shares of Freshpet by 617.3% in the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Freshpet in the 3rd quarter valued at about $59,000. Pathstone Family Office LLC bought a new stake in shares of Freshpet in the 3rd quarter valued at about $206,000. Finally, Wealth Alliance bought a new stake in shares of Freshpet in the 4th quarter valued at about $217,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FRPT shares. DA Davidson increased their price target on Freshpet from $104.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer increased their price objective on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. StockNews.com upgraded shares of Freshpet to a “sell” rating in a research note on Wednesday. Citigroup began coverage on shares of Freshpet in a research note on Thursday, February 1st. They set a “neutral” rating and a $94.00 target price for the company. Finally, Truist Financial upgraded shares of Freshpet from a “hold” rating to a “buy” rating and raised their target price for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Freshpet Price Performance

FRPT stock opened at $106.36 on Friday. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. Freshpet, Inc. has a 12 month low of $54.60 and a 12 month high of $117.76. The firm has a market cap of $5.14 billion, a P/E ratio of -149.80 and a beta of 1.23. The company’s 50-day moving average price is $107.77 and its two-hundred day moving average price is $86.81.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The firm had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. During the same period last year, the firm earned ($0.06) EPS. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, analysts anticipate that Freshpet, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In related news, COO Scott James Morris sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Stephen Macchiaverna sold 7,130 shares of Freshpet stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at approximately $9,231,127.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott James Morris sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,921,948.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock valued at $1,737,280 in the last ninety days. 3.60% of the stock is currently owned by company 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.