12,470 Shares in Freshpet, Inc. $FRPT Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Freshpet, Inc. (NASDAQ:FRPT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,470 shares of the company’s stock, valued at approximately $737,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of 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 boosted its position in Freshpet by 734.1% during the first 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 last quarter. United Services Automobile Association purchased a new stake in Freshpet in the 1st quarter worth approximately $247,000. EverSource Wealth Advisors LLC grew its stake in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in Freshpet by 140.3% in the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after acquiring an additional 3,676 shares during the last quarter.

Freshpet Stock Performance

NASDAQ FRPT opened at $70.24 on Friday. The firm has a market capitalization of $3.45 billion, a P/E ratio of 18.48 and a beta of 1.66. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03. The business’s 50-day simple moving average is $64.10 and its 200-day simple moving average is $63.00.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business had revenue of $305.59 million during the quarter, compared to analysts’ expectations of $292.35 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts predict that Freshpet, Inc. will post 1.73 EPS for the current year.

Insider Transactions at Freshpet

In other news, CEO William Cyr sold 2,657 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total value of $200,337.80. Following the completion of the sale, the chief executive officer owned 49,044 shares of the company’s stock, valued at $3,697,917.60. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 171,636 shares of company stock worth $12,754,864 in the last ninety days. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a research report on Tuesday, August 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 price objective (down from $77.00) on shares of Freshpet in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Freshpet from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, DA Davidson cut their price target on shares of Freshpet from $101.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

About Freshpet

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.