Geode Capital Management LLC Buys 9,081 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Geode Capital Management LLC grew its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 844,744 shares of the company's stock after acquiring an additional 9,081 shares during the period. Geode Capital Management LLC owned about 1.74% of Freshpet worth $127,446,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FRPT. The Manufacturers Life Insurance Company grew its holdings in Freshpet by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,848 shares of the company's stock worth $1,620,000 after purchasing an additional 336 shares during the period. XTX Topco Ltd acquired a new stake in shares of Freshpet in the third quarter valued at approximately $202,000. Y Intercept Hong Kong Ltd bought a new position in shares of Freshpet during the 3rd quarter worth approximately $656,000. M&T Bank Corp increased its holdings in shares of Freshpet by 8.8% during the 3rd quarter. M&T Bank Corp now owns 2,183 shares of the company's stock worth $299,000 after acquiring an additional 177 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Freshpet in the 3rd quarter valued at $226,000.

Freshpet Price Performance

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

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

Wall Street Analysts Forecast Growth

Several research firms have commented on FRPT. Piper Sandler decreased their price objective on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Citigroup decreased their price target on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research note 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 report on Wednesday, April 2nd. Jefferies Financial Group upgraded Freshpet from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $155.00 to $150.00 in a report on Monday, February 24th. Finally, Stifel Nicolaus lowered their target price on Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Freshpet Company 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.