Arizona State Retirement System Has $1.66 Million Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Arizona State Retirement System increased its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 12,843 shares of the company’s stock after purchasing an additional 248 shares during the period. Arizona State Retirement System’s holdings in Freshpet were worth $1,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in shares of Freshpet during the fourth quarter worth $29,000. GAMMA Investing LLC lifted its position in Freshpet by 100.8% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after buying an additional 132 shares in the last quarter. ORG Partners LLC bought a new stake in Freshpet during the 2nd quarter worth about $32,000. Blue Bell Private Wealth Management LLC acquired a new stake in Freshpet in the 1st quarter valued at about $36,000. Finally, Quarry LP bought a new position in shares of Freshpet in the fourth quarter worth about $40,000.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Freshpet in a report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Tuesday, July 2nd. Bank of America boosted their target price on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. TD Cowen raised their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird lifted their price objective on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.87.

Insiders Place Their Bets

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Freshpet Stock Up 1.8 %

Freshpet stock opened at $137.62 on Thursday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 764.60 and a beta of 1.39. The company’s 50 day simple moving average is $128.75 and its 200 day simple moving average is $121.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $143.06.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. During the same period last year, the firm posted ($0.35) earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.7 EPS for the current year.

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.