Alberta Investment Management Corp Makes New Investment in Freshpet, Inc. $FRPT

Alberta Investment Management Corp acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 759,600 shares of the company’s stock, valued at approximately $41,862,000. Freshpet makes up about 0.4% of Alberta Investment Management Corp’s investment portfolio, making the stock its 24th biggest holding.

A number of other large investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock worth $5,624,000 after buying an additional 31,334 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Freshpet by 734.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after acquiring an additional 1,593 shares during the period. United Services Automobile Association bought a new position in shares of Freshpet during the 1st quarter worth about $247,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Freshpet during the 2nd quarter valued at about $232,000. Finally, CWM LLC increased its stake in Freshpet by 200.4% in the second quarter. CWM LLC now owns 15,750 shares of the company’s stock valued at $1,070,000 after acquiring an additional 10,507 shares during the period.

Analysts Set New Price Targets

FRPT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research note on Monday, December 15th. Truist Financial cut their target price on Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Wells Fargo & Company boosted their price target on Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $56.00 price target on shares of Freshpet in a research report on Tuesday, November 4th. Finally, DA Davidson cut their price objective on Freshpet from $101.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.60.

Freshpet Stock Up 1.8%

Shares of FRPT opened at $72.97 on Thursday. The company has a market capitalization of $3.56 billion, a P/E ratio of 31.86, a PEG ratio of 1.75 and a beta of 1.72. Freshpet, Inc. has a one year low of $46.76 and a one year high of $132.86. The business’s 50 day simple moving average is $66.10 and its 200-day simple moving average is $59.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61.

Insider Buying and Selling

In other Freshpet news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the transaction, the president owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.43% of the company’s stock.

Freshpet Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.