Tokio Marine Asset Management Co. Ltd. Cuts Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Tokio Marine Asset Management Co. Ltd. decreased its position in Freshpet, Inc. (NASDAQ:FRPT) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,500 shares of the company’s stock after selling 400 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Freshpet were worth $1,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRPT. Impax Asset Management Group plc purchased a new stake in Freshpet during the 4th quarter valued at about $4,338,000. Oak Thistle LLC purchased a new stake in shares of Freshpet in the 4th quarter valued at approximately $1,200,000. Allspring Global Investments Holdings LLC grew its stake in shares of Freshpet by 89.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 90,997 shares of the company’s stock valued at $7,895,000 after buying an additional 42,973 shares during the period. Trust Point Inc. purchased a new stake in shares of Freshpet in the 4th quarter valued at approximately $963,000. Finally, Jennison Associates LLC grew its stake in shares of Freshpet by 36.6% in the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after buying an additional 245,403 shares during the period.

Insiders Place Their Bets

In other Freshpet news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total transaction of $280,050.00. Following the completion of the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,762 shares of company stock valued at $1,737,280. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FRPT. Citigroup began coverage on shares of Freshpet in a research note on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial upgraded shares of Freshpet from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $135.00 in a report on Monday, March 11th. Stifel Nicolaus upped their price objective on shares of Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Piper Sandler upped their price objective on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Freshpet Stock Up 0.8 %

Shares of NASDAQ FRPT traded up $0.85 during mid-day trading on Friday, reaching $105.83. The company had a trading volume of 42,931 shares, compared to its average volume of 601,255. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $107.77 and a two-hundred day simple moving average of $86.81. The stock has a market cap of $5.11 billion, a P/E ratio of -147.86 and a beta of 1.23. Freshpet, Inc. has a 52-week low of $54.60 and a 52-week high of $117.76.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. During the same period last year, the firm posted ($0.06) EPS. Freshpet’s revenue for the quarter was up 29.9% on a year-over-year basis. Sell-side analysts predict that Freshpet, Inc. will post 0.07 earnings per share for the current year.

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.