Blueshift Asset Management LLC Makes New $484,000 Investment in Freshpet, Inc. (NASDAQ:FRPT)

Blueshift Asset Management LLC acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,817 shares of the company’s stock, valued at approximately $484,000.

Other hedge funds have also modified their holdings of the company. Elequin Capital LP acquired a new position in Freshpet during the 4th quarter worth $29,000. Larson Financial Group LLC grew its position in shares of Freshpet by 1,585.0% during the first quarter. Larson Financial Group LLC now owns 674 shares of the company’s stock worth $56,000 after buying an additional 634 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Freshpet during the fourth quarter worth approximately $70,000. GeoWealth Management LLC purchased a new stake in shares of Freshpet during the fourth quarter worth approximately $122,000. Finally, Hardy Reed LLC raised its holdings in Freshpet by 10.4% in the first quarter. Hardy Reed LLC now owns 2,414 shares of the company’s stock valued at $201,000 after acquiring an additional 228 shares in the last quarter.

Freshpet Stock Performance

NASDAQ:FRPT opened at $65.85 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.92 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.21 billion, a P/E ratio of 212.42, a price-to-earnings-growth ratio of 1.36 and a beta of 1.77. The firm has a 50-day moving average price of $73.36 and a two-hundred day moving average price of $92.29. Freshpet, Inc. has a twelve month low of $64.69 and a twelve month high of $164.07.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The business had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on FRPT shares. JPMorgan Chase & Co. lowered their price target on shares of Freshpet from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Robert W. Baird lowered their target price on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the company a “buy” rating in a report on Thursday, June 12th. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. Finally, Benchmark lowered their price objective on Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.14.

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.