Rhumbline Advisers Sells 1,549 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Rhumbline Advisers cut its position in Freshpet, Inc. (NASDAQ:FRPT) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,086 shares of the company’s stock after selling 1,549 shares during the period. Rhumbline Advisers owned about 0.09% of Freshpet worth $6,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FRPT. Geneos Wealth Management Inc. increased its position in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after buying an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Freshpet during the third quarter worth about $32,000. R Squared Ltd acquired a new position in Freshpet in the fourth quarter valued at about $39,000. Brooklyn Investment Group bought a new stake in shares of Freshpet in the third quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Freshpet during the fourth quarter worth about $59,000.

Freshpet Stock Down 0.5 %

NASDAQ:FRPT opened at $107.04 on Wednesday. Freshpet, Inc. has a twelve month low of $97.48 and a twelve month high of $164.07. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 113.87 and a beta of 1.42. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $143.97 and its two-hundred day moving average price is $142.83.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Equities research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FRPT. TD Cowen boosted their price objective on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their price target on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of Freshpet in a report on Friday, November 1st. One research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.47.

Insider Activity

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. Insiders own 3.70% of the company’s stock.

About Freshpet

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.