1,493 Shares in Freshpet, Inc. (NASDAQ:FRPT) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new position in Freshpet, Inc. (NASDAQ:FRPT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,493 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC increased its position in shares of Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after acquiring an additional 110,478 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after acquiring an additional 37,287 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after purchasing an additional 154,909 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after purchasing an additional 186,889 shares in the last quarter.

Freshpet Trading Down 0.5 %

Shares of Freshpet stock opened at $107.04 on Wednesday. The company’s fifty day moving average price is $143.97 and its two-hundred day moving average price is $142.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a 52-week low of $97.48 and a 52-week high of $164.07. The firm has a market capitalization of $5.21 billion, a PE ratio of 113.87 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $275.46 million. On average, analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total transaction of $786,900.00. Following the transaction, the president now directly owns 122,380 shares in the company, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered 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. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. 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 company. According to data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $156.47.

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.