Central Pacific Bank Trust Division Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Central Pacific Bank Trust Division purchased a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 4,490 shares of the company’s stock, valued at approximately $520,000.

A number of other institutional investors have also recently bought and sold shares of FRPT. JPMorgan Chase & Co. boosted its stake in Freshpet by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock worth $139,576,000 after buying an additional 17,678 shares in the last quarter. Sei Investments Co. boosted its stake in Freshpet by 4.4% during the third quarter. Sei Investments Co. now owns 257,519 shares of the company’s stock worth $16,965,000 after buying an additional 10,832 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in Freshpet during the third quarter worth $5,621,000. JANA Partners Management LP bought a new position in shares of Freshpet during the third quarter valued at $214,405,000. Finally, Diversified Trust Co lifted its holdings in shares of Freshpet by 3.4% during the third quarter. Diversified Trust Co now owns 19,526 shares of the company’s stock valued at $1,286,000 after acquiring an additional 647 shares during the period.

Freshpet Trading Down 1.7 %

Shares of Freshpet stock traded down $2.16 during trading on Wednesday, hitting $127.27. 40,565 shares of the company were exchanged, compared to its average volume of 597,630. The firm has a market capitalization of $6.16 billion, a P/E ratio of 722.26 and a beta of 1.36. Freshpet, Inc. has a 1-year low of $54.60 and a 1-year high of $136.35. The firm’s fifty day moving average price is $126.94 and its 200 day moving average price is $108.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.43. The company had revenue of $223.85 million during the quarter, compared to analyst estimates of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. As a group, sell-side analysts expect that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the business’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 value of $786,742.20. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $10,337,585.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 13,560 shares of company stock worth $1,701,580. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Redburn Atlantic raised Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Thursday, May 23rd. TD Cowen lifted their price objective on Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Robert W. Baird lifted their price objective on Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Wells Fargo & Company lifted their price objective on Freshpet from $124.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Finally, DA Davidson lifted their price objective on Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.25.

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.