Freshpet, Inc. $FRPT Stake Boosted by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its holdings in Freshpet, Inc. by 68.8%, now owning a total of 227,225 shares valued at approximately $18.8 million.
• Multiple institutional investors, including **Amalgamated Bank** and **Deutsche Bank AG**, made significant adjustments to their positions, reflecting growing interest in Freshpet during the first quarter.
• Freshpet reported a **12.5% increase** in revenue year-over-year, with earnings per share of **$0.33**, surpassing analyst expectations, although revenue fell short of estimates at **$264.69 million** for the quarter.

AQR Capital Management LLC grew its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 68.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,225 shares of the company's stock after buying an additional 92,612 shares during the period. AQR Capital Management LLC owned 0.47% of Freshpet worth $18,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP acquired a new stake in shares of Freshpet in the fourth quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Freshpet in the first quarter valued at about $34,000. Larson Financial Group LLC lifted its stake in shares of Freshpet by 1,585.0% in the first quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after buying an additional 634 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Freshpet in the fourth quarter worth about $70,000. Finally, Corebridge Financial Inc. lifted its stake in shares of Freshpet by 313.8% in the first quarter. Corebridge Financial Inc. now owns 2,044 shares of the company's stock worth $170,000 after buying an additional 1,550 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on FRPT. Benchmark reaffirmed a "buy" rating and set a $95.00 target price (down from $120.00) on shares of Freshpet in a research note on Tuesday, August 5th. Zacks Research raised shares of Freshpet from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Stifel Nicolaus set a $90.00 price target on shares of Freshpet and gave the company a "buy" rating in a research note on Thursday, June 12th. TD Cowen cut shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Freshpet in a report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Freshpet presently has a consensus rating of "Hold" and an average target price of $108.07.

Insider Activity at Freshpet

In other news, Director Jacki Sue Kelley acquired 814 shares of the stock in a transaction on Tuesday, September 9th. The stock was bought at an average price of $56.50 per share, with a total value of $45,991.00. Following the completion of the transaction, the director directly owned 11,907 shares of the company's stock, valued at $672,745.50. The trade was a 7.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish purchased 3,500 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were bought at an average cost of $56.00 per share, with a total value of $196,000.00. Following the transaction, the director directly owned 35,290 shares of the company's stock, valued at approximately $1,976,240. This represents a 11.01% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 4,630 shares of company stock valued at $259,656 in the last ninety days. 4.43% of the stock is owned by corporate insiders.

Freshpet Price Performance

NASDAQ FRPT traded down $1.55 during trading hours on Monday, reaching $53.27. The company's stock had a trading volume of 175,721 shares, compared to its average volume of 1,357,249. The stock has a market cap of $2.60 billion, a PE ratio of 79.74, a PEG ratio of 0.97 and a beta of 1.72. Freshpet, Inc. has a fifty-two week low of $52.27 and a fifty-two week high of $164.07. The company's 50-day moving average is $63.71 and its two-hundred day moving average is $74.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. The company had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. Freshpet has set its FY 2025 guidance at EPS. Analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

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.