MRA Advisory Group bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,461 shares of the company's stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRPT. M&T Bank Corp increased its holdings in shares of Freshpet by 3.2% in the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company's stock valued at $333,000 after buying an additional 70 shares in the last quarter. Vident Advisory LLC raised its stake in Freshpet by 4.0% during the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock valued at $313,000 after purchasing an additional 82 shares during the period. Freedom Investment Management Inc. raised its stake in Freshpet by 5.3% during the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock valued at $249,000 after purchasing an additional 84 shares during the period. Arizona State Retirement System raised its stake in Freshpet by 0.8% during the 4th quarter. Arizona State Retirement System now owns 13,350 shares of the company's stock valued at $1,977,000 after purchasing an additional 101 shares during the period. Finally, Williamson Legacy Group LLC raised its stake in Freshpet by 1.6% during the 4th quarter. Williamson Legacy Group LLC now owns 6,903 shares of the company's stock valued at $1,022,000 after purchasing an additional 112 shares during the period.
Analyst Ratings Changes
Several analysts have issued reports on FRPT shares. TD Cowen downgraded shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price on the stock. in a research note on Wednesday, May 28th. JPMorgan Chase & Co. cut their target price on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Robert W. Baird lowered their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.86.
Check Out Our Latest Stock Report on Freshpet
Freshpet Price Performance
FRPT stock opened at $80.99 on Friday. The company has a 50 day simple moving average of $79.78 and a 200 day simple moving average of $114.20. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 86.16 and a beta of 1.85. Freshpet, Inc. has a 1 year low of $71.19 and a 1 year high of $164.07. 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 posted its earnings results on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The business had revenue of $263.25 million for the quarter, compared to the consensus estimate of $265.57 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company's revenue was up 17.6% compared to the same quarter last year. Research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.
Freshpet Company Profile
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Free Report)
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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