Amalgamated Bank lifted its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 450.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,823 shares of the company's stock after acquiring an additional 12,131 shares during the quarter. Amalgamated Bank's holdings in Freshpet were worth $1,233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FRPT. KBC Group NV raised its holdings in shares of Freshpet by 2.1% in the 1st quarter. KBC Group NV now owns 14,704 shares of the company's stock valued at $1,223,000 after purchasing an additional 307 shares in the last quarter. Diversified Trust Co raised its stake in Freshpet by 17.7% in the first quarter. Diversified Trust Co now owns 13,447 shares of the company's stock worth $1,118,000 after buying an additional 2,018 shares in the last quarter. Bessemer Group Inc. raised its stake in Freshpet by 20.9% in the first quarter. Bessemer Group Inc. now owns 14,183 shares of the company's stock worth $1,180,000 after buying an additional 2,451 shares in the last quarter. Lecap Asset Management Ltd. increased its holdings in shares of Freshpet by 218.4% in the 1st quarter. Lecap Asset Management Ltd. now owns 17,558 shares of the company's stock valued at $1,460,000 after acquiring an additional 12,044 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Freshpet by 44.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 48,379 shares of the company's stock valued at $4,024,000 after acquiring an additional 14,950 shares during the period.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on FRPT. Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company cut their price target on Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday. Benchmark cut their price target on Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Truist Financial lowered Freshpet from a "buy" rating to a "hold" rating and dropped their price target for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus set a $90.00 price objective on shares of Freshpet and gave the company a "buy" rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $119.14.
Check Out Our Latest Report on FRPT
Freshpet Stock Performance
Shares of FRPT stock traded down $2.36 on Friday, hitting $68.39. The company had a trading volume of 922,338 shares, compared to its average volume of 949,996. The firm has a market cap of $3.34 billion, a P/E ratio of 220.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.79. The company has a 50-day moving average price of $77.22 and a 200-day moving average price of $100.70. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a twelve month low of $66.75 and a twelve month high of $164.07.
Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The business's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. As a group, equities research analysts predict that Freshpet, Inc. will post 1.55 earnings per share 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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