Mutual of America Capital Management LLC Reduces Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Mutual of America Capital Management LLC reduced its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,401 shares of the company’s stock after selling 1,851 shares during the period. Mutual of America Capital Management LLC owned 0.12% of Freshpet worth $7,714,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Freshpet during the third quarter worth about $29,000. ORG Partners LLC bought a new position in Freshpet in the second quarter worth about $32,000. GAMMA Investing LLC raised its stake in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after buying an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Freshpet in the second quarter worth about $52,000.

Insider Activity at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Freshpet Price Performance

Shares of FRPT opened at $150.49 on Tuesday. The company has a market capitalization of $7.30 billion, a P/E ratio of 169.09 and a beta of 1.39. 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 firm has a 50 day moving average of $141.26 and a 200 day moving average of $132.65. Freshpet, Inc. has a twelve month low of $68.22 and a twelve month high of $159.12.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. As a group, equities research analysts anticipate that Freshpet, Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. TD Cowen increased their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. DA Davidson increased their price target on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com raised shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

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.