Congress Wealth Management LLC DE Trims Stake in Freshpet, Inc. (NASDAQ:FRPT)

Congress Wealth Management LLC DE cut its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,463 shares of the company’s stock after selling 314 shares during the period. Congress Wealth Management LLC DE’s holdings in Freshpet were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after buying an additional 154,909 shares in the last quarter. Cerity Partners LLC purchased a new position in Freshpet during the third quarter valued at approximately $1,044,000. The Manufacturers Life Insurance Company lifted its holdings in Freshpet by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,848 shares of the company’s stock valued at $1,620,000 after purchasing an additional 336 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Freshpet in the third quarter worth approximately $54,000. Finally, Freedom Investment Management Inc. purchased a new stake in shares of Freshpet in the third quarter worth $218,000.

Freshpet Stock Down 2.6 %

Shares of FRPT opened at $84.39 on Friday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $118.17 and a 200 day moving average of $135.77. The company has a market cap of $4.11 billion, a PE ratio of 89.78 and a beta of 1.58. Freshpet, Inc. has a 52-week low of $80.27 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. On average, sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FRPT. JPMorgan Chase & Co. cut their price target on Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Stifel Nicolaus cut their target price on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Wells Fargo & Company cut their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and lowered their target price for the stock from $155.00 to $150.00 in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.67.

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.