Balyasny Asset Management L.P. Lowers Stake in Freshpet, Inc. (NASDAQ:FRPT)

Balyasny Asset Management L.P. reduced its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 56.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,865 shares of the company's stock after selling 39,197 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.06% of Freshpet worth $4,423,000 at the end of the most recent quarter.

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

Freshpet Stock Up 1.9%

Freshpet stock traded up $1.47 during mid-day trading on Wednesday, reaching $78.78. 1,371,307 shares of the company's stock were exchanged, compared to its average volume of 844,610. The company has a market cap of $3.84 billion, a P/E ratio of 83.81 and a beta of 1.85. Freshpet, Inc. has a twelve month low of $71.19 and a twelve month high of $164.07. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $80.63 and a 200-day moving average of $121.22.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. Freshpet's revenue was up 17.6% compared to the same quarter last year. Sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Analyst Ratings Changes

FRPT has been the subject of several analyst reports. Benchmark decreased their price objective on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and decreased their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Piper Sandler decreased their price target on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Truist Financial downgraded shares of Freshpet from a "buy" rating to a "hold" rating and decreased their price target for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus decreased their price target on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Freshpet presently has an average rating of "Moderate Buy" and an average target price of $135.73.

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.