Wasatch Advisors LP Cuts Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Wasatch Advisors LP decreased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,946,207 shares of the company’s stock after selling 144,824 shares during the quarter. Freshpet accounts for about 1.4% of Wasatch Advisors LP’s holdings, making the stock its 17th biggest position. Wasatch Advisors LP’s holdings in Freshpet were worth $288,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FRPT. M&T Bank Corp increased its holdings in shares of Freshpet by 3.2% during the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock valued at $333,000 after acquiring an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Freshpet by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after buying an additional 75 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Freshpet by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after buying an additional 92 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Freshpet by 0.8% during the fourth quarter. Arizona State Retirement System now owns 13,350 shares of the company’s stock valued at $1,977,000 after buying an additional 101 shares during the last quarter. Finally, Williamson Legacy Group LLC increased its position in shares of Freshpet by 1.6% during the fourth quarter. Williamson Legacy Group LLC now owns 6,903 shares of the company’s stock valued at $1,022,000 after acquiring an additional 112 shares in the last quarter.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $79.26 on Wednesday. The stock has a market cap of $3.86 billion, a PE ratio of 84.32 and a beta of 1.80. Freshpet, Inc. has a 1 year low of $72.90 and a 1 year high of $164.07. The firm has a fifty day moving average price of $96.62 and a 200-day moving average price of $130.05. 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) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. Equities analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FRPT shares. Citigroup cut their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Truist Financial lowered their target price on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Freshpet from $102.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

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.