First Hawaiian Bank reduced its position in Freshpet, Inc. (NASDAQ:FRPT – Free Report) by 22.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,510 shares of the company’s stock after selling 1,885 shares during the period. First Hawaiian Bank’s holdings in Freshpet were worth $964,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in Freshpet in the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Freshpet in the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Freshpet during the second quarter worth approximately $52,000. Finally, Brooklyn Investment Group acquired a new position in Freshpet in the third quarter valued at approximately $54,000.
Freshpet Stock Performance
Shares of FRPT stock opened at $146.34 on Friday. The firm has a market cap of $7.10 billion, a PE ratio of 164.43 and a beta of 1.41. Freshpet, Inc. has a 12 month low of $82.21 and a 12 month high of $160.91. The company’s fifty day simple moving average is $149.49 and its 200-day simple moving average is $138.42. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.
Insider Transactions at Freshpet
In related news, President Scott James Morris sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock worth $1,962,175 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on FRPT shares. TD Cowen increased their price target on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price target on shares of Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Oppenheimer increased their price target on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.36.
Read Our Latest Stock Report on FRPT
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.
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