Congress Asset Management Co. Invests $298,000 in Freshpet, Inc. (NASDAQ:FRPT)

Congress Asset Management Co. acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,010 shares of the company’s stock, valued at approximately $298,000.

Several other large investors have also added to or reduced their stakes in the business. WCM Investment Management LLC increased its stake in Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after buying an additional 110,478 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after acquiring an additional 37,287 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Freshpet by 54.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after acquiring an additional 154,909 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after acquiring an additional 253,679 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after acquiring an additional 186,889 shares in the last quarter.

Insider Activity at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now owns 122,380 shares in the company, valued at $19,260,164.40. The trade was a 3.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Robert W. Baird raised their price target on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer upped their price target on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Freshpet has an average rating of “Moderate Buy” and an average price target of $164.29.

Freshpet Price Performance

Freshpet stock opened at $131.99 on Wednesday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 148.31 and a beta of 1.42. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 12 month low of $87.87 and a 12 month high of $164.07. The stock’s 50 day moving average is $147.90 and its 200-day moving average is $143.34.

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.