Truist Financial Corp Has $1.15 Million Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Truist Financial Corp increased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,743 shares of the company’s stock after buying an additional 230 shares during the quarter. Truist Financial Corp’s holdings in Freshpet were worth $1,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FRPT. Geneos Wealth Management Inc. increased its position in Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freshpet during the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new stake in Freshpet during the 4th quarter worth approximately $39,000. Brooklyn Investment Group bought a new stake in Freshpet during the 3rd quarter worth approximately $54,000. Finally, Capital Performance Advisors LLP bought a new stake in Freshpet during the 3rd quarter worth approximately $57,000.

Freshpet Stock Down 0.1 %

Shares of NASDAQ FRPT opened at $107.03 on Friday. The firm has a market cap of $5.21 billion, a PE ratio of 113.86 and a beta of 1.42. Freshpet, Inc. has a 12-month low of $97.48 and a 12-month high of $164.07. The company’s fifty day simple moving average is $142.61 and its 200 day simple moving average is $142.33. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Scott James Morris sold 5,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Citigroup reduced their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. DA Davidson boosted their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Truist Financial reissued a “buy” rating and set a $140.00 target price (down from $170.00) on shares of Freshpet in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $156.47.

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.