716,960 Shares in Freshpet, Inc. $FRPT Purchased by Armistice Capital LLC

Key Points

• Armistice Capital LLC acquired 716,960 shares of Freshpet, valued at approximately $59.63 million, making it the firm's 13th largest holding.
• Several large investors, including Elequin Capital LP and Corebridge Financial Inc., are increasing their stakes in Freshpet, indicating growing institutional interest.
• Analysts have mixed ratings for Freshpet, with average price targets ranging from $70.00 to $101.00 and an overall consensus rating of "Hold."

Armistice Capital LLC purchased a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 716,960 shares of the company's stock, valued at approximately $59,630,000. Freshpet makes up approximately 0.9% of Armistice Capital LLC's portfolio, making the stock its 13th biggest position. Armistice Capital LLC owned 1.47% of Freshpet at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Freshpet by 12.3% during the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock worth $434,455,000 after purchasing an additional 571,139 shares during the period. Wellington Management Group LLP increased its position in shares of Freshpet by 8.1% during the first quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company's stock worth $217,590,000 after purchasing an additional 196,882 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Freshpet by 9.6% during the first quarter. Champlain Investment Partners LLC now owns 1,815,884 shares of the company's stock worth $151,027,000 after purchasing an additional 158,416 shares in the last quarter. Riverbridge Partners LLC grew its holdings in Freshpet by 18.0% in the 1st quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after buying an additional 156,583 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Freshpet by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock valued at $120,065,000 after buying an additional 39,129 shares in the last quarter.

Freshpet Trading Down 2.8%

Shares of NASDAQ:FRPT traded down $1.55 during midday trading on Wednesday, reaching $53.13. The company's stock had a trading volume of 2,702,078 shares, compared to its average volume of 1,208,612. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 79.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.72. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 1 year low of $53.07 and a 1 year high of $164.07. The business has a 50 day moving average price of $65.89 and a 200 day moving average price of $78.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FRPT shares. Benchmark reiterated a "buy" rating and set a $95.00 price target (down from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. DA Davidson set a $101.00 price target on Freshpet in a research report on Thursday, August 7th. Truist Financial decreased their price target on Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Wall Street Zen raised shares of Freshpet from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Freshpet in a research report on Wednesday, August 20th. They set a "neutral" rating and a $70.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $109.29.

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.