PNC Financial Services Group Inc. Has $172,000 Stake in Freshpet, Inc. $FRPT

PNC Financial Services Group Inc. trimmed its stake in Freshpet, Inc. (NASDAQ:FRPT) by 54.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,533 shares of the company’s stock after selling 3,023 shares during the period. PNC Financial Services Group Inc.’s holdings in Freshpet were worth $172,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FRPT. Banque Transatlantique SA acquired a new position in Freshpet during the first quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in shares of Freshpet during the 1st quarter worth $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Freshpet in the 2nd quarter valued at $35,000. Blue Trust Inc. raised its holdings in Freshpet by 100.7% in the 2nd quarter. Blue Trust Inc. now owns 833 shares of the company’s stock worth $57,000 after acquiring an additional 418 shares during the period. Finally, GAMMA Investing LLC lifted its position in Freshpet by 283.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock worth $99,000 after acquiring an additional 1,078 shares during the last quarter.

Freshpet Price Performance

Shares of FRPT stock opened at $57.16 on Friday. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $164.07. The company has a market capitalization of $2.79 billion, a P/E ratio of 24.96, a P/E/G ratio of 0.76 and a beta of 1.76. The stock has a 50 day moving average of $53.22 and a two-hundred day moving average of $63.42. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $1.43. The business had revenue of $288.85 million for the quarter, compared to analysts’ expectations of $283.73 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.Freshpet’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, equities analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Freshpet in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $56.00 target price on shares of Freshpet in a report on Tuesday, November 4th. Stifel Nicolaus cut their price target on Freshpet from $90.00 to $65.00 and set a “buy” rating for the company in a report on Friday, October 24th. Truist Financial reduced their price objective on Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Finally, UBS Group set a $48.00 target price on shares of Freshpet and gave the stock a “sell” rating in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.43.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 63,135 shares of Freshpet stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $55.21, for a total transaction of $3,485,683.35. Following the sale, the president directly owned 160,476 shares in the company, valued at approximately $8,859,879.96. The trade was a 28.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacki Sue Kelley purchased 814 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average cost of $56.50 per share, with a total value of $45,991.00. Following the transaction, the director directly owned 11,907 shares of the company’s stock, valued at approximately $672,745.50. This represents a 7.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 6,008 shares of company stock worth $332,305. Corporate insiders own 4.43% of the company’s stock.

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.