Congress Asset Management Co. Makes New $298,000 Investment in Freshpet, Inc. (NASDAQ:FRPT)

Congress Asset Management Co. acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,010 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Freshpet by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock valued at $805,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after purchasing an additional 92 shares during the last quarter. GLOBALT Investments LLC GA increased its stake in shares of Freshpet by 3.2% in the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock valued at $490,000 after buying an additional 111 shares in the last quarter. LVW Advisors LLC raised its holdings in shares of Freshpet by 5.9% in the fourth quarter. LVW Advisors LLC now owns 2,260 shares of the company’s stock valued at $335,000 after buying an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Freshpet by 23.0% in the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after buying an additional 138 shares during the last quarter.

Freshpet Stock Performance

Shares of Freshpet stock opened at $131.99 on Wednesday. Freshpet, Inc. has a 12 month low of $87.87 and a 12 month high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $6.41 billion, a PE ratio of 148.31 and a beta of 1.42. The stock’s fifty day simple moving average is $147.90 and its 200 day simple moving average is $143.34.

Analyst Upgrades and Downgrades

FRPT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial boosted their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their target price on shares of Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.29.

Insider Transactions at Freshpet

In related news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

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.