California Public Employees Retirement System Sells 19,654 Shares of Freshpet, Inc. (NASDAQ:FRPT)

California Public Employees Retirement System trimmed its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 23.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,258 shares of the company's stock after selling 19,654 shares during the quarter. California Public Employees Retirement System owned 0.13% of Freshpet worth $9,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lecap Asset Management Ltd. bought a new position in Freshpet in the fourth quarter valued at about $817,000. Principal Financial Group Inc. increased its position in shares of Freshpet by 36.4% during the 4th quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after purchasing an additional 28,743 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company's stock worth $115,650,000 after purchasing an additional 37,287 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Freshpet by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 135,629 shares of the company's stock worth $20,088,000 after buying an additional 2,291 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position 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 buying an additional 253,679 shares during the period.

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Freshpet Price Performance

FRPT stock traded up $2.02 during mid-day trading on Friday, hitting $80.19. The company had a trading volume of 1,180,408 shares, compared to its average volume of 790,051. The company has a 50-day moving average price of $99.37 and a 200 day moving average price of $130.82. Freshpet, Inc. has a 12-month low of $72.90 and a 12-month high of $164.07. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 85.31 and a beta of 1.80. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.36 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 company had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. On average, research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

FRPT has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Freshpet from a "hold" rating to a "buy" rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Citigroup cut their price target on Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 25th. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus lowered their price target on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

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.