Allspring Global Investments Holdings LLC Raises Stake in Freshpet, Inc. (NASDAQ:FRPT)

Allspring Global Investments Holdings LLC increased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 198.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 381,385 shares of the company’s stock after purchasing an additional 253,679 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Freshpet were worth $55,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after buying an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Freshpet in the 3rd quarter worth about $32,000. R Squared Ltd purchased a new stake in shares of Freshpet in the 4th quarter worth about $39,000. Brooklyn Investment Group purchased a new stake in shares of Freshpet in the 3rd quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Freshpet in the 4th quarter worth about $59,000.

Wall Street Analyst Weigh In

Several research firms recently commented on FRPT. Stifel Nicolaus boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup reduced their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.29.

Insider Activity

In related news, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total transaction of $786,900.00. Following the completion of the sale, the president now owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Freshpet Trading Down 0.2 %

NASDAQ FRPT opened at $131.29 on Friday. Freshpet, Inc. has a 12 month low of $85.50 and a 12 month high of $164.07. The company has a 50-day moving average of $149.25 and a 200-day moving average of $142.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a market cap of $6.37 billion, a P/E ratio of 147.52 and a beta of 1.42.

Freshpet 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.