Freshpet, Inc. (NASDAQ:FRPT) Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,086 shares of the company’s stock after selling 321 shares during the period. PNC Financial Services Group Inc.’s holdings in Freshpet were worth $268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FRPT. Johnson Financial Group Inc. purchased a new position in shares of Freshpet during the 4th quarter valued at $29,000. Quarry LP purchased a new position in shares of Freshpet during the 4th quarter valued at $40,000. Washington Trust Advisors Inc. grew its holdings in shares of Freshpet by 617.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Freshpet by 96.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $153,000 after acquiring an additional 860 shares in the last quarter. Finally, Wealth Alliance purchased a new position in shares of Freshpet during the 4th quarter valued at $217,000.

Freshpet Stock Performance

NASDAQ FRPT opened at $129.00 on Tuesday. The stock has a market cap of $6.25 billion, a P/E ratio of 716.71 and a beta of 1.36. The company’s 50-day simple moving average is $123.73 and its 200 day simple moving average is $106.66. Freshpet, Inc. has a twelve month low of $54.60 and a twelve month high of $132.84. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.43. The business had revenue of $223.85 million for the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. As a group, research analysts forecast that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Freshpet in a report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price objective for the company. Robert W. Baird upped their price objective on shares of Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Oppenheimer upped their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. TD Cowen upped their price objective on shares of Freshpet from $128.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Insiders Place Their Bets

In other Freshpet news, EVP Stephen Macchiaverna sold 1,012 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total transaction of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $10,377,163.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 13,560 shares of company stock valued at $1,701,580. 3.60% 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.