CenterBook Partners LP Increases Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

CenterBook Partners LP boosted its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 239.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,274 shares of the company's stock after purchasing an additional 7,952 shares during the quarter. CenterBook Partners LP's holdings in Freshpet were worth $938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its holdings in Freshpet by 4.0% in 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 in the last quarter. Freedom Investment Management Inc. boosted its position in shares of Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock valued at $249,000 after purchasing an additional 84 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of 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 purchasing an additional 120 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock valued at $32,000 after purchasing an additional 123 shares during the period. Finally, Elequin Capital LP acquired a new stake in shares of Freshpet in the 4th quarter valued at about $29,000.

Analyst Upgrades and Downgrades

FRPT has been the subject of a number of research analyst reports. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and decreased their target price for the company from $90.00 to $80.00 in a research report on Wednesday, April 30th. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their price target on Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $119.14.

Freshpet Price Performance

Freshpet stock traded down $1.13 during mid-day trading on Friday, hitting $70.82. 1,055,749 shares of the company were exchanged, compared to its average volume of 959,224. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.92. The business's 50 day simple moving average is $76.23 and its two-hundred day simple moving average is $98.07. The company has a market capitalization of $3.45 billion, a P/E ratio of 228.45, a PEG ratio of 1.16 and a beta of 1.79. Freshpet, Inc. has a 12-month low of $66.75 and a 12-month high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $263.25 million for the quarter, compared to analysts' expectations of $265.57 million. Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The business's quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet 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.