Atika Capital Management LLC Lowers Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Atika Capital Management LLC trimmed its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 25.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 49,400 shares of the company's stock after selling 16,600 shares during the period. Atika Capital Management LLC owned 0.10% of Freshpet worth $7,317,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FRPT. The Manufacturers Life Insurance Company lifted its holdings in shares of 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. Captrust Financial Advisors lifted its stake in shares of Freshpet by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,571 shares of the company's stock worth $1,035,000 after acquiring an additional 209 shares during the period. Centiva Capital LP boosted its holdings in shares of Freshpet by 224.5% in the third quarter. Centiva Capital LP now owns 5,240 shares of the company's stock valued at $717,000 after acquiring an additional 3,625 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Freshpet during the third quarter worth about $202,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Freshpet during the third quarter worth about $656,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FRPT shares. Piper Sandler lowered their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company decreased their price target on Freshpet from $142.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial cut their price objective on Freshpet from $140.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Jefferies Financial Group upgraded shares of Freshpet from a "hold" rating to a "buy" rating and decreased their target price for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus cut their price target on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating for the company 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Remove Ads

Freshpet Price Performance

Freshpet stock traded up $1.70 during mid-day trading on Friday, hitting $79.87. 257,682 shares of the company were exchanged, compared to its average volume of 785,287. 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 $3.89 billion, a P/E ratio of 85.09 and a beta of 1.80. The business's 50 day simple moving average is $100.87 and its two-hundred day simple moving average is $131.24. 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 (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Analysts forecast 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.