Tokio Marine Asset Management Co. Ltd. Trims Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,500 shares of the company’s stock after selling 400 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Freshpet were worth $1,518,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in Freshpet by 0.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 33,662 shares of the company’s stock valued at $2,218,000 after acquiring an additional 279 shares in the last quarter. Amalgamated Bank lifted its stake in Freshpet by 4.6% during the third quarter. Amalgamated Bank now owns 7,678 shares of the company’s stock worth $506,000 after purchasing an additional 335 shares during the last quarter. RiverPark Advisors LLC bought a new stake in Freshpet in the third quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Freshpet by 4.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,428 shares of the company’s stock valued at $905,000 after buying an additional 442 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Freshpet by 3.8% in the fourth quarter. Arizona State Retirement System now owns 12,806 shares of the company’s stock valued at $1,111,000 after buying an additional 474 shares during the last quarter.

Freshpet Stock Performance

Shares of FRPT traded up $0.85 on Friday, reaching $105.83. 42,931 shares of the stock traded hands, compared to its average volume of 601,255. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -147.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. Freshpet, Inc. has a 12 month low of $54.60 and a 12 month high of $117.76. The stock’s 50-day moving average price is $107.77 and its 200-day moving average price is $86.81.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The company had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The business’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Equities analysts forecast that Freshpet, Inc. will post 0.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on FRPT. StockNews.com raised Freshpet to a “sell” rating in a report on Wednesday. Citigroup assumed coverage on Freshpet in a research note on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Piper Sandler raised their price objective on Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and lifted their price target for the company from $120.00 to $135.00 in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Freshpet news, COO Scott James Morris sold 2,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $113.76, for a total value of $284,400.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,921,948.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,762 shares of company stock valued at $1,737,280. 3.60% of the stock is currently owned by corporate insiders.

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.