Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,858 shares of the company's stock after selling 14,529 shares during the quarter. LPL Financial LLC owned about 0.10% of Freshpet worth $7,380,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew 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 valued at $1,620,000 after buying an additional 336 shares during the last quarter. Captrust Financial Advisors lifted its position in Freshpet by 2.8% during 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. XTX Topco Ltd purchased a new stake in Freshpet during the 3rd quarter valued at about $202,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Freshpet in the third quarter valued at about $656,000. Finally, M&T Bank Corp raised its stake in shares of Freshpet by 8.8% in the third quarter. M&T Bank Corp now owns 2,183 shares of the company's stock worth $299,000 after purchasing an additional 177 shares during the last quarter.

Analyst Ratings Changes

FRPT has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. Citigroup decreased their price objective 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. Wells Fargo & Company cut their price objective on shares of Freshpet from $142.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Jefferies Financial Group upgraded shares of Freshpet from a "hold" rating to a "buy" rating and decreased their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. 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 assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Freshpet has an average rating of "Moderate Buy" and an average price target of $144.47.

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Freshpet Price Performance

Shares of Freshpet stock traded up $2.02 on Friday, reaching $80.19. The company's stock had a trading volume of 1,180,408 shares, compared to its average volume of 790,051. 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 capitalization of $3.91 billion, a P/E ratio of 85.31 and a beta of 1.80. The stock has a 50-day moving average price of $99.37 and a 200-day moving average price of $130.82. Freshpet, Inc. has a 52-week low of $72.90 and a 52-week high of $164.07.

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

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.