Mutual of America Capital Management LLC Cuts Stake in Freshpet, Inc. (NASDAQ:FRPT)

Mutual of America Capital Management LLC reduced its position in Freshpet, Inc. (NASDAQ:FRPT) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,252 shares of the company’s stock after selling 2,227 shares during the quarter. Mutual of America Capital Management LLC owned about 0.12% of Freshpet worth $7,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FRPT. Norges Bank purchased a new position in Freshpet in the fourth quarter worth $40,327,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Freshpet by 3,434.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after buying an additional 219,913 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Freshpet during the first quarter worth $17,845,000. Verition Fund Management LLC acquired a new stake in shares of Freshpet during the fourth quarter worth $12,395,000. Finally, Franklin Resources Inc. lifted its stake in shares of Freshpet by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock worth $146,602,000 after buying an additional 117,864 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on FRPT shares. TD Cowen lifted their price objective on shares of Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Oppenheimer lifted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Bank of America lifted their price objective on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Robert W. Baird boosted their target price on shares of Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.87.

Freshpet Stock Up 0.2 %

FRPT opened at $141.24 on Friday. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $144.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. The company has a fifty day moving average of $130.08 and a two-hundred day moving average of $123.26. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 784.67 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. On average, research analysts expect that Freshpet, Inc. will post 0.72 earnings per share for the current year.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

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.