Bank of Montreal Can Lowers Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Bank of Montreal Can trimmed its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,385 shares of the company's stock after selling 39,395 shares during the period. Bank of Montreal Can owned approximately 0.34% of Freshpet worth $24,495,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FRPT. Lecap Asset Management Ltd. bought a new position in shares of Freshpet during the fourth quarter valued at approximately $817,000. Principal Financial Group Inc. raised its stake in Freshpet by 36.4% during the fourth quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after buying an additional 28,743 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company's stock worth $115,650,000 after acquiring an additional 37,287 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Freshpet by 1.7% during the fourth quarter. Victory Capital Management Inc. now owns 135,629 shares of the company's stock valued at $20,088,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after purchasing an additional 253,679 shares during the last quarter.

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Analysts Set New Price Targets

Several brokerages have issued reports on FRPT. Piper Sandler decreased their target price 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. JPMorgan Chase & Co. lowered their price objective on Freshpet from $102.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Citigroup decreased their price objective on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Benchmark cut their price objective on Freshpet from $195.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Jefferies Financial Group raised Freshpet from a "hold" rating to a "buy" rating and lowered their target price for the company from $155.00 to $150.00 in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Freshpet presently has an average rating of "Moderate Buy" and a consensus price target of $143.80.

Freshpet Trading Down 2.4 %

Shares of NASDAQ FRPT traded down $1.98 during trading hours on Tuesday, hitting $79.26. 923,290 shares of the company traded hands, compared to its average volume of 791,400. The company's 50 day moving average price is $96.62 and its 200 day moving average price is $130.05. Freshpet, Inc. has a 12 month low of $72.90 and a 12 month high of $164.07. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 84.32 and a beta of 1.80. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. On average, equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet 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.