Allianz Asset Management GmbH Sells 50,847 Shares of Freshpet, Inc. (NASDAQ:FRPT) (2024)

Allianz Asset Management GmbH decreased its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,575 shares of the company's stock after selling 50,847 shares during the quarter. Allianz Asset Management GmbH owned 0.55% of Freshpet worth $23,215,000 as of its most recent SEC filing.

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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in shares of Freshpet during the fourth quarter worth $29,000. US Bancorp DE increased its position in shares of Freshpet by 21.2% during the fourth quarter. US Bancorp DE now owns 12,585 shares of the company's stock worth $1,092,000 after acquiring an additional 2,198 shares during the period. Franklin Resources Inc. increased its position in shares of Freshpet by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company's stock worth $146,602,000 after acquiring an additional 117,864 shares during the period. Corient Private Wealth LLC increased its holdings in Freshpet by 17.0% in the fourth quarter. Corient Private Wealth LLC now owns 8,347 shares of the company's stock valued at $724,000 after buying an additional 1,213 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Freshpet by 53.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 23,901 shares of the company's stock valued at $2,074,000 after buying an additional 8,327 shares during the last quarter.

Insider Buying and Selling at Freshpet

In other Freshpet news, COO Scott James Morris sold 3,632 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $109.86, for a total value of $399,011.52. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares of the company's stock, valued at $13,444,666.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Scott James Morris sold 3,632 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares of the company's stock, valued at approximately $13,444,666.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen Macchiaverna sold 6,548 shares of the firm's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $120.15, for a total transaction of $786,742.20. Following the transaction, the executive vice president now directly owns 86,039 shares of the company's stock, valued at $10,337,585.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,692 shares of company stock valued at $1,587,861. Corporate insiders own 3.60% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on FRPT shares. DA Davidson increased their target price on Freshpet from $138.00 to $153.00 and gave the company a "buy" rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Freshpet in a report on Thursday, May 23rd. They issued a "buy" rating and a $150.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Freshpet from $67.00 to $102.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price objective on shares of Freshpet from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, April 11th. Finally, StockNews.com upgraded shares of Freshpet to a "sell" rating in a research note on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $124.63.

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Freshpet Stock Performance

NASDAQ FRPT traded up $1.24 during trading hours on Friday, hitting $131.17. 736,138 shares of the stock were exchanged, compared to its average volume of 642,196. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 728.76 and a beta of 1.24. Freshpet, Inc. has a 12-month low of $54.60 and a 12-month high of $132.29. The stock has a 50-day moving average of $116.61 and a 200 day moving average of $98.07. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The company had revenue of $223.85 million during the quarter, compared to analysts' expectations of $216.43 million. As a group, equities research analysts forecast that Freshpet, Inc. will post 0.36 earnings per share for the current year.

Freshpet Company Profile

(Free Report)

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.

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