First Bank & Trust Boosts Position in Freshpet, Inc. (NASDAQ:FRPT)

First Bank & Trust raised its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,622 shares of the company’s stock after buying an additional 666 shares during the quarter. First Bank & Trust’s holdings in Freshpet were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Freshpet by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock valued at $805,000 after buying an additional 75 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after purchasing an additional 92 shares in the last quarter. GLOBALT Investments LLC GA grew its holdings in shares of Freshpet by 3.2% during the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock worth $490,000 after purchasing an additional 111 shares in the last quarter. LVW Advisors LLC grew its holdings in shares of Freshpet by 5.9% during the fourth quarter. LVW Advisors LLC now owns 2,260 shares of the company’s stock worth $335,000 after purchasing an additional 125 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Freshpet by 23.0% during the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock worth $101,000 after purchasing an additional 138 shares in the last quarter.

Freshpet Stock Performance

Shares of FRPT stock opened at $130.35 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. Freshpet, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $164.07. The stock has a 50 day moving average price of $147.27 and a two-hundred day moving average price of $143.32. The company has a market capitalization of $6.33 billion, a P/E ratio of 146.47 and a beta of 1.42.

Analysts Set New Price Targets

FRPT has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. TD Cowen boosted their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. DA Davidson boosted their price objective on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.29.

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

About Freshpet

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.