Hsbc Holdings PLC Has $3.90 Million Position in Freshpet, Inc. (NASDAQ:FRPT)

Hsbc Holdings PLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,267 shares of the company’s stock after buying an additional 3,666 shares during the quarter. Hsbc Holdings PLC’s holdings in Freshpet were worth $3,902,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its position in Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Freshpet in the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new position in shares of Freshpet during the 4th quarter worth approximately $39,000. Finally, IFP Advisors Inc acquired a new stake in Freshpet in the 4th quarter valued at $43,000.

Freshpet Stock Up 0.7 %

Shares of NASDAQ:FRPT opened at $73.91 on Wednesday. The company has a 50 day moving average of $85.61 and a 200-day moving average of $125.66. Freshpet, Inc. has a one year low of $71.19 and a one year high of $164.07. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 78.63 and a beta of 1.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Benchmark dropped their price objective on Freshpet from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and dropped their target price for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Wells Fargo & Company reduced their price target on shares of Freshpet from $142.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler dropped their price objective on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, March 25th. Finally, Oppenheimer downgraded Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.47.

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.