Norges Bank Takes $75.25 Million Position in Freshpet, Inc. (NASDAQ:FRPT)

Norges Bank acquired a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 508,091 shares of the company's stock, valued at approximately $75,253,000. Norges Bank owned 1.05% of Freshpet as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC purchased a new position in shares of Freshpet in the 3rd quarter valued at $1,044,000. The Manufacturers Life Insurance Company boosted its position in 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 purchasing an additional 336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Freshpet by 9.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,913 shares of the company's stock valued at $1,493,000 after purchasing an additional 966 shares during the last quarter. Captrust Financial Advisors grew its stake in Freshpet by 2.8% in the third quarter. Captrust Financial Advisors now owns 7,571 shares of the company's stock valued at $1,035,000 after purchasing an additional 209 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Freshpet in the third quarter worth about $571,000.

Freshpet Stock Performance

FRPT traded up $0.21 during trading on Monday, reaching $79.70. 1,852,717 shares of the company's stock were exchanged, compared to its average volume of 773,767. The company's fifty day simple moving average is $109.07 and its 200-day simple moving average is $133.30. The stock has a market capitalization of $3.88 billion, a P/E ratio of 84.79 and a beta of 1.80. 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 1 year low of $74.14 and a 1 year high of $164.07.

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Freshpet (NASDAQ:FRPT - Get Free Report) last issued its 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 firm had revenue of $262.71 million during the quarter, compared to analysts' expectations of $275.46 million. As a group, research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Freshpet from $155.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Wells Fargo & Company reduced their price target on Freshpet from $142.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group raised Freshpet from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their target price on Freshpet from $154.00 to $102.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.53.

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.