Freshpet, Inc. (NASDAQ:FRPT) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 53.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,398 shares of the company's stock after purchasing an additional 48,401 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of Freshpet worth $16,151,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $29,000. GAMMA Investing LLC raised its holdings in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company's stock worth $30,000 after buying an additional 132 shares during the period. Quarry LP purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $40,000. Washington Trust Advisors Inc. increased its holdings in Freshpet by 617.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company's stock worth $50,000 after purchasing an additional 500 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in Freshpet by 96.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,750 shares of the company's stock worth $153,000 after purchasing an additional 860 shares during the period.

Freshpet Stock Performance

Shares of FRPT stock traded up $1.12 on Friday, hitting $133.59. The company had a trading volume of 184,232 shares, compared to its average volume of 475,269. The firm has a market cap of $6.47 billion, a P/E ratio of 742.21 and a beta of 1.36. The company has a 50-day moving average price of $125.92 and a 200-day moving average price of $108.01. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet, Inc. has a twelve month low of $54.60 and a twelve month high of $134.30.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million during the quarter, compared to analysts' expectations of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. As a group, equities research analysts predict that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 1,012 shares of Freshpet stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $120.61, for a total value of $122,057.32. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at approximately $10,377,163.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 13,560 shares of company stock worth $1,701,580 in the last 90 days. Corporate insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

FRPT has been the topic of several research reports. Piper Sandler restated an "overweight" rating and set a $150.00 price objective on shares of Freshpet in a report on Tuesday, July 2nd. Oppenheimer raised their price objective on Freshpet from $135.00 to $155.00 and gave the stock an "outperform" rating in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Freshpet in a report on Thursday, May 23rd. They set a "buy" rating and a $150.00 price objective on the stock. Truist Financial upgraded Freshpet from a "hold" rating to a "buy" rating and lifted their price target for the company from $120.00 to $135.00 in a report on Monday, March 11th. Finally, StockNews.com upgraded Freshpet to a "sell" rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.25.

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.