Freshpet, Inc. (NASDAQ:FRPT) Stake Lessened by Redwood Investments LLC

Redwood Investments LLC decreased its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 25.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,854 shares of the company’s stock after selling 14,403 shares during the period. Freshpet accounts for about 1.7% of Redwood Investments LLC’s investment portfolio, making the stock its 15th largest holding. Redwood Investments LLC owned 0.09% of Freshpet worth $6,347,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Freshpet in the 4th quarter worth approximately $75,253,000. Allspring Global Investments Holdings LLC lifted its stake in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock worth $23,045,000 after buying an additional 113,200 shares in the last quarter. WCM Investment Management LLC grew its position in Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after buying an additional 110,478 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company’s stock worth $25,669,000 after buying an additional 102,232 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Citigroup reduced their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Freshpet from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Benchmark decreased their target price on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.73.

Freshpet Price Performance

NASDAQ FRPT opened at $78.78 on Thursday. 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 firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 83.81 and a beta of 1.85. The company has a 50 day simple moving average of $80.63 and a 200-day simple moving average of $121.22. Freshpet, Inc. has a 52-week low of $71.19 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. Equities research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

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.