Connor Clark & Lunn Investment Management Ltd. Reduces Position in Freshpet, Inc. (NASDAQ:FRPT)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,657 shares of the company's stock after selling 3,056 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Freshpet worth $13,723,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Atria Investments Inc lifted its stake in Freshpet by 5.5% in the third quarter. Atria Investments Inc now owns 5,049 shares of the company's stock worth $691,000 after purchasing an additional 265 shares during the last quarter. Versor Investments LP bought a new stake in Freshpet in the third quarter valued at approximately $300,000. Entropy Technologies LP boosted its stake in shares of Freshpet by 34.3% during the third quarter. Entropy Technologies LP now owns 4,309 shares of the company's stock valued at $589,000 after purchasing an additional 1,101 shares during the period. KBC Group NV grew its holdings in Freshpet by 0.8% in the 3rd quarter. KBC Group NV now owns 24,869 shares of the company's stock worth $3,401,000 after acquiring an additional 186 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Freshpet by 18.5% during the third quarter. Zions Bancorporation N.A. now owns 13,606 shares of the company's stock worth $1,861,000 after purchasing an additional 2,121 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on FRPT shares. StockNews.com cut Freshpet from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and reduced their price objective for the company from $155.00 to $150.00 in a research report on Monday, February 24th. Truist Financial reaffirmed a "buy" rating and issued a $140.00 target price (down from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Citigroup decreased their price target on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut their price objective on Freshpet from $170.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $151.67.

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Freshpet Stock Down 4.7 %

Shares of NASDAQ:FRPT traded down $4.23 on Tuesday, hitting $85.09. 1,662,136 shares of the company traded hands, compared to its average volume of 692,116. The stock has a 50 day simple moving average of $129.60 and a 200-day simple moving average of $138.96. 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 $4.15 billion, a PE ratio of 90.52 and a beta of 1.58. Freshpet, Inc. has a 52 week low of $80.27 and a 52 week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting analysts' consensus estimates of $0.36. The business had revenue of $262.71 million during 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%. As a group, research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current 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.