Arcadia Investment Management Corp MI Takes Position in Freshpet, Inc. (NASDAQ:FRPT)

Arcadia Investment Management Corp MI acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 739 shares of the company’s stock, valued at approximately $110,000.

Several other large investors also recently modified their holdings of FRPT. Blue Trust Inc. raised its position in shares of Freshpet by 2,770.4% in the third quarter. Blue Trust Inc. now owns 775 shares of the company’s stock valued at $100,000 after purchasing an additional 748 shares during the period. Allspring Global Investments Holdings LLC increased its position in Freshpet by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 127,706 shares of the company’s stock worth $17,466,000 after acquiring an additional 11,494 shares during the period. Private Advisor Group LLC increased its position in Freshpet by 29.7% during the third quarter. Private Advisor Group LLC now owns 2,316 shares of the company’s stock worth $317,000 after acquiring an additional 531 shares during the period. E. Ohman J or Asset Management AB increased its position in Freshpet by 13.1% during the third quarter. E. Ohman J or Asset Management AB now owns 12,070 shares of the company’s stock worth $1,651,000 after acquiring an additional 1,400 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Freshpet during the third quarter worth about $795,000.

Insider Activity

In other news, President Scott James Morris sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Freshpet Trading Down 18.5 %

FRPT opened at $106.39 on Friday. The company’s 50 day moving average is $146.48 and its 200-day moving average is $143.06. Freshpet, Inc. has a 1-year low of $87.87 and a 1-year high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.16 billion, a P/E ratio of 119.54 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. Equities research analysts predict that Freshpet, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FRPT shares. Stifel Nicolaus raised their price target on shares of Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen raised their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. DA Davidson raised their price target on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial raised their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.29.

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.