Blue Trust Inc. Trims Stake in Freshpet, Inc. (NASDAQ:FRPT)

Blue Trust Inc. lessened its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 49.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 389 shares of the company’s stock after selling 386 shares during the quarter. Blue Trust Inc.’s holdings in Freshpet were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Legato Capital Management LLC lifted its position in Freshpet by 24.7% during the fourth quarter. Legato Capital Management LLC now owns 14,172 shares of the company’s stock worth $2,099,000 after buying an additional 2,811 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Freshpet during the 4th quarter valued at $59,000. WCM Investment Management LLC increased its holdings in shares of Freshpet by 4.0% during the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after buying an additional 110,478 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Freshpet in the 4th quarter worth $6,359,000.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $107.58 on Tuesday. The stock’s 50 day moving average price is $144.76 and its 200 day moving average price is $142.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 114.45 and a beta of 1.42. Freshpet, Inc. has a 12 month low of $97.48 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The company had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at $19,260,164.40. This represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of research reports. TD Cowen boosted their target price on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup cut their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Robert W. Baird upped their price target 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. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. Finally, DA Davidson upped their target price on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus target price of $158.47.

About Freshpet

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.