Bryce Point Capital LLC Purchases 6,974 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Key Points

• Bryce Point Capital LLC significantly increased its stake in Freshpet, Inc. by acquiring an additional 6,974 shares, raising its total holdings to 10,502 shares valued at approximately $907,000.
• Various hedge funds are actively adjusting their positions in Freshpet, with some establishing new stakes and others significantly increasing their existing investments.
• Freshpet reported $0.09 earnings per share, missing estimates, while its revenue of $263.25 million represented a 17.6% increase compared to the previous year.

Bryce Point Capital LLC raised its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 197.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,502 shares of the company's stock after purchasing an additional 6,974 shares during the quarter. Bryce Point Capital LLC's holdings in Freshpet were worth $907,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FRPT. Vident Advisory LLC lifted its holdings in 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 purchasing an additional 82 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock worth $249,000 after buying an additional 84 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Freshpet by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 20,462 shares of the company's stock valued at $3,031,000 after purchasing an additional 120 shares in the last quarter. Elequin Capital LP purchased a new stake in Freshpet in the fourth quarter valued at approximately $29,000. Finally, Tidal Investments LLC raised its stake in Freshpet by 10.4% in the fourth quarter. Tidal Investments LLC now owns 2,174 shares of the company's stock valued at $322,000 after purchasing an additional 205 shares in the last quarter.

Freshpet Stock Down 4.0%

Shares of FRPT traded down $2.83 during trading hours on Thursday, hitting $68.23. The company had a trading volume of 436,789 shares, compared to its average volume of 1,323,772. The firm has a fifty day moving average price of $74.35 and a 200-day moving average price of $93.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 220.11, a P/E/G ratio of 1.41 and a beta of 1.79. Freshpet, Inc. has a 52-week low of $66.75 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued 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 3.16% and a net margin of 1.54%. The business had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. During the same period last year, the firm posted $0.37 EPS. Freshpet's quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target 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 set a $90.00 target price on shares of Freshpet and gave the stock a "buy" rating in a report on Thursday, June 12th. Robert W. Baird cut their target price 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. Wells Fargo & Company cut their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Finally, TD Cowen cut shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target 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 stock. Based on data from MarketBeat.com, Freshpet has an average rating of "Hold" and an average target price of $119.14.

Freshpet Company Profile

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.