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Blueshift Asset Management LLC Buys New Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Freshpet logo with Consumer Staples background

Key Points

  • Blueshift Asset Management LLC invested approximately $484,000 in Freshpet, purchasing 5,817 shares during the first quarter.
  • Freshpet reported $263.25 million in revenue for the latest quarter, missing analysts' expectations, with earnings per share (EPS) of $0.09.
  • Freshpet's stock has a current market capitalization of $3.21 billion, and research analysts have mixed ratings with a consensus of “Hold” and an average price target of $119.14.
  • Five stocks to consider instead of Freshpet.

Blueshift Asset Management LLC bought a new stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,817 shares of the company's stock, valued at approximately $484,000.

A number of other large investors have also recently bought and sold shares of the stock. Vident Advisory LLC grew its stake in shares of Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock valued at $313,000 after acquiring an additional 82 shares in the last quarter. 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 acquiring an additional 84 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Freshpet by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 20,462 shares of the company's stock valued at $3,031,000 after buying an additional 120 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Freshpet in the fourth quarter valued at $29,000. Finally, Tidal Investments LLC boosted its stake in shares of Freshpet by 10.4% during the 4th quarter. Tidal Investments LLC now owns 2,174 shares of the company's stock worth $322,000 after acquiring an additional 205 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FRPT. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. Robert W. Baird lowered their price objective on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. UBS Group initiated coverage on shares of Freshpet in a report on Monday, June 16th. They issued a "sell" rating and a $65.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, July 9th. Finally, TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective on the stock. in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Freshpet has a consensus rating of "Hold" and a consensus price target of $119.14.

View Our Latest Report on FRPT

Freshpet Price Performance

Shares of FRPT stock traded up $4.14 on Monday, reaching $69.99. The company's stock had a trading volume of 3,528,255 shares, compared to its average volume of 1,324,509. Freshpet, Inc. has a 12-month low of $64.69 and a 12-month high of $164.07. The stock's 50 day simple moving average is $73.07 and its 200-day simple moving average is $90.81. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.41 billion, a P/E ratio of 225.77, a PEG ratio of 1.31 and a beta of 1.77.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.21. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The business had revenue of $264.69 million during the quarter, compared to analyst estimates of $269.75 million. During the same period in the previous year, the business posted ($0.03) earnings per share. Freshpet's revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet Company Profile

(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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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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