Pier 88 Investment Partners LLC Sells 10,370 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Pier 88 Investment Partners LLC reduced its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 49.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,480 shares of the company's stock after selling 10,370 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Freshpet were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FRPT. Geneos Wealth Management Inc. raised its stake in shares of Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock valued at $30,000 after acquiring an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet in the 3rd quarter worth approximately $32,000. Jones Financial Companies Lllp grew its position in shares of Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after buying an additional 123 shares during the last quarter. R Squared Ltd bought a new stake in Freshpet in the fourth quarter valued at $39,000. Finally, IFP Advisors Inc purchased a new position in Freshpet during the 4th quarter valued at $43,000.

Freshpet Stock Performance

Shares of NASDAQ:FRPT traded up $1.30 during midday trading on Tuesday, hitting $84.47. The company had a trading volume of 935,196 shares, compared to its average volume of 760,125. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 89.86 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a fifty day moving average of $115.25 and a two-hundred day moving average of $134.96. Freshpet, Inc. has a 12-month low of $80.27 and a 12-month high of $164.07.

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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, meeting analysts' consensus estimates of $0.36. The firm had revenue of $262.71 million for the quarter, compared to analysts' expectations of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. On average, equities research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on FRPT. Truist Financial reduced their price target on shares of Freshpet from $140.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday. Stifel Nicolaus decreased their target price on Freshpet from $155.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on Freshpet from $154.00 to $102.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.67.

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.