Bryce Point Capital LLC bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,528 shares of the company's stock, valued at approximately $523,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock valued at $689,090,000 after purchasing an additional 46,844 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company's stock valued at $430,809,000 after purchasing an additional 110,478 shares in the last quarter. Geode Capital Management LLC raised its holdings in Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock worth $127,446,000 after purchasing an additional 9,081 shares during the period. Norges Bank acquired a new stake in Freshpet in the fourth quarter valued at approximately $75,253,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock valued at $55,065,000 after buying an additional 253,679 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on FRPT shares. Truist Financial lowered their price target on Freshpet from $140.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and dropped their target price for the stock from $155.00 to $150.00 in a report on Monday, February 24th. Citigroup reduced their target price on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on shares of Freshpet from $142.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Finally, Oppenheimer downgraded shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.53.
View Our Latest Stock Analysis on Freshpet
Freshpet Stock Up 11.8 %
Freshpet stock traded up $8.75 during mid-day trading on Wednesday, reaching $82.88. 1,685,395 shares of the company's stock were exchanged, compared to its average volume of 783,249. Freshpet, Inc. has a twelve month low of $72.90 and a twelve month high of $164.07. The company has a fifty day moving average of $102.50 and a 200-day moving average of $131.67. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.04 billion, a P/E ratio of 88.17 and a beta of 1.80.
Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting analysts' consensus estimates of $0.36. The firm had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.
Freshpet Profile
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Free Report)
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.
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