Comerica Bank Decreases Stake in Freshpet, Inc. (NASDAQ:FRPT)

Comerica Bank decreased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,117 shares of the company’s stock after selling 2,380 shares during the quarter. Comerica Bank’s holdings in Freshpet were worth $2,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FRPT. Geneos Wealth Management Inc. lifted its holdings in Freshpet by 302.0% during 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Freshpet during the third quarter worth $32,000. Jones Financial Companies Lllp boosted its holdings in Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 123 shares during the period. R Squared Ltd bought a new stake in Freshpet during the fourth quarter valued at $39,000. Finally, IFP Advisors Inc acquired a new stake in shares of Freshpet during the fourth quarter worth $43,000.

Freshpet Stock Down 1.9 %

Shares of NASDAQ:FRPT opened at $80.47 on Friday. The firm has a 50 day simple moving average of $81.60 and a 200 day simple moving average of $122.35. Freshpet, Inc. has a 52 week low of $71.19 and a 52 week high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The company has a market cap of $3.93 billion, a PE ratio of 85.61 and a beta of 1.85.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $263.25 million during the quarter, compared to analysts’ expectations of $265.57 million. During the same quarter in the previous year, the company earned $0.37 EPS. Freshpet’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FRPT shares. Wells Fargo & Company dropped their price objective on shares of Freshpet from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, March 25th. Truist Financial downgraded Freshpet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and dropped their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Finally, Robert W. Baird cut their price objective on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.73.

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.