Freshpet, Inc. (NASDAQ:FRPT) Stock Position Lessened by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. decreased its stake in Freshpet, Inc. by 14.8% during the 1st quarter, now owning approximately 78,914 shares worth $6,563,000.
• Freshpet's quarterly earnings report showed earnings per share of $0.33, significantly surpassing analyst expectations of $0.12, with a year-over-year revenue increase of 12.5%.
• Equities analysts have mixed views on Freshpet's stock, with eight buy ratings, six hold ratings, and one sell rating, suggesting a consensus "Hold" status with a target price around $110.36.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,914 shares of the company's stock after selling 13,743 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Freshpet worth $6,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FRPT. Vident Advisory LLC grew its holdings in Freshpet by 4.0% in the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock valued at $313,000 after buying an additional 82 shares during the period. Freedom Investment Management Inc. grew its holdings in 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 buying an additional 84 shares during the period. Treasurer of the State of North Carolina grew its holdings 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 during the period. Elequin Capital LP purchased a new stake in Freshpet in the 4th quarter valued at about $29,000. Finally, Tidal Investments LLC grew its holdings in Freshpet by 10.4% in the 4th quarter. Tidal Investments LLC now owns 2,174 shares of the company's stock valued at $322,000 after buying an additional 205 shares during the period.

Freshpet Stock Performance

Shares of FRPT stock traded down $2.05 on Friday, hitting $61.24. 1,174,395 shares of the stock traded hands, compared to its average volume of 1,472,884. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. The company has a market capitalization of $2.99 billion, a PE ratio of 91.40, a PEG ratio of 1.08 and a beta of 1.77. Freshpet, Inc. has a 1-year low of $61.12 and a 1-year high of $164.07. The company's fifty day moving average is $69.94 and its 200 day moving average is $85.34.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly 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. The business had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%. The business's revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. On average, equities research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird lowered their price target on Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price for the company. in a report on Wednesday, May 28th. UBS Group started coverage on Freshpet in a report on Monday, June 16th. They issued a "sell" rating and a $65.00 price target for the company. Finally, Benchmark restated a "buy" rating and issued a $95.00 price target (down previously from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $110.36.

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.