Oberweis Asset Management Inc. Buys Shares of 94,300 Freshpet, Inc. (NASDAQ:FRPT)

Oberweis Asset Management Inc. bought a new stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 94,300 shares of the company's stock, valued at approximately $13,967,000. Oberweis Asset Management Inc. owned 0.19% of Freshpet at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Freshpet during the 4th quarter valued at $75,253,000. Allspring Global Investments Holdings LLC lifted its holdings in Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock valued at $55,065,000 after acquiring an additional 253,679 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock worth $23,045,000 after buying an additional 113,200 shares in the last quarter. WCM Investment Management LLC grew its position in Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company's stock worth $430,809,000 after buying an additional 110,478 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company's stock valued at $25,669,000 after buying an additional 102,232 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Citigroup decreased their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their price target on Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial lowered their target price on Freshpet from $140.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Wells Fargo & Company reduced their price target on shares of Freshpet from $142.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.80.

Freshpet Price Performance

Freshpet stock opened at $74.12 on Thursday. The business has a 50 day simple moving average of $89.63 and a 200 day simple moving average of $127.54. Freshpet, Inc. has a one year low of $72.20 and a one year high of $164.07. The company has a market capitalization of $3.61 billion, a PE ratio of 78.85 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 (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $275.46 million. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

About Freshpet

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.

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