Emerald Advisers LLC Grows Stake in Freshpet, Inc. (NASDAQ:FRPT)

Emerald Advisers LLC raised its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 509,448 shares of the company's stock after purchasing an additional 11,416 shares during the period. Freshpet accounts for about 1.9% of Emerald Advisers LLC's investment portfolio, making the stock its 7th biggest holding. Emerald Advisers LLC owned approximately 1.05% of Freshpet worth $42,371,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Elequin Capital LP purchased a new position in shares of Freshpet in the fourth quarter valued at about $29,000. Jones Financial Companies Lllp lifted its position in shares of Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock valued at $32,000 after acquiring an additional 123 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Freshpet in the fourth quarter valued at about $70,000. GeoWealth Management LLC purchased a new position in shares of Freshpet in the fourth quarter valued at about $122,000. Finally, Teza Capital Management LLC purchased a new position in shares of Freshpet in the fourth quarter valued at about $211,000.

Analysts Set New Price Targets

FRPT has been the topic of several research analyst reports. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the company a "buy" rating in a research report on Thursday, June 12th. TD Cowen downgraded Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective on the stock. in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their target price on Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Truist Financial downgraded Freshpet from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $80.00 in a research report on Wednesday, April 30th. Finally, Robert W. Baird decreased their target price on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. 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 stock. Based on data from MarketBeat, Freshpet has an average rating of "Hold" and a consensus target price of $119.14.

Freshpet Trading Up 1.0%

Shares of Freshpet stock traded up $0.68 on Wednesday, reaching $69.39. The company had a trading volume of 798,256 shares, compared to its average volume of 957,846. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 223.84, a P/E/G ratio of 1.20 and a beta of 1.79. 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 firm's 50-day moving average price is $76.67 and its two-hundred day moving average price is $98.81. Freshpet, Inc. has a 1 year low of $66.75 and a 1 year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The company had revenue of $263.25 million during 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%. Freshpet's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. As a group, research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

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.