Royce & Associates LP Raises Position in Freshpet, Inc. $FRPT

Royce & Associates LP boosted its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 61.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,260 shares of the company’s stock after purchasing an additional 19,502 shares during the period. Royce & Associates LP’s holdings in Freshpet were worth $2,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after buying an additional 472 shares during the period. State of Wyoming bought a new position in Freshpet during the 2nd quarter worth approximately $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Freshpet in the 2nd quarter worth approximately $35,000. Ossiam lifted its position in Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Freshpet by 258.9% during the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock valued at $37,000 after purchasing an additional 391 shares during the period.

Freshpet Stock Performance

Shares of FRPT opened at $85.19 on Friday. The company has a 50-day simple moving average of $69.91 and a two-hundred day simple moving average of $60.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57. The firm has a market capitalization of $4.18 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.62 and a beta of 1.66. Freshpet, Inc. has a one year low of $46.76 and a one year high of $97.00.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on FRPT. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. raised their price target on shares of Freshpet from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings raised shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. Bank of America increased their target price on shares of Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Finally, Wells Fargo & Company boosted their price target on Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.47.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.