M&G Plc Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

M&G Plc bought a new stake in Freshpet, Inc. (NASDAQ:FRPT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,930 shares of the company’s stock, valued at approximately $8,892,000. M&G Plc owned about 0.14% of Freshpet at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FRPT. Norges Bank acquired a new position in Freshpet during the 4th quarter worth $40,327,000. Jennison Associates LLC boosted its holdings in Freshpet by 36.6% in the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 shares during the last quarter. Victory Capital Management Inc. increased its position in Freshpet by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after purchasing an additional 234,836 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Freshpet by 3,434.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after purchasing an additional 219,913 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Freshpet during the 1st quarter valued at about $17,845,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FRPT shares. Piper Sandler reiterated an “overweight” rating and set a $150.00 price target on shares of Freshpet in a research report on Tuesday, July 2nd. Benchmark restated a “buy” rating and set a $150.00 target price on shares of Freshpet in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Citigroup increased their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.60.

Freshpet Stock Performance

FRPT opened at $130.51 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 725.06 and a beta of 1.36. Freshpet, Inc. has a 12-month low of $54.60 and a 12-month high of $136.35. The business has a 50 day moving average of $126.34 and a 200-day moving average of $115.24.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. Freshpet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. On average, equities research analysts expect that Freshpet, Inc. will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $11,368,333.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by insiders.

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.