Russell Investments Group Ltd. Increases Stake in Freshpet, Inc. $FRPT

Key Points

• Russell Investments Group Ltd. increased its stake in Freshpet, Inc. by 45.7% during the 1st quarter, owning 56,354 shares valued at approximately $4.69 million.
• Freshpet reported $0.33 earnings per share in its recent quarterly earnings, significantly surpassing analysts' estimates of $0.12.
• Analysts maintain a consensus rating of "Moderate Buy" for Freshpet, with a target share price averaging $109.29.

Russell Investments Group Ltd. raised its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,354 shares of the company's stock after acquiring an additional 17,687 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Freshpet worth $4,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board purchased a new stake in Freshpet in the first quarter valued at approximately $12,799,000. Nuveen LLC bought a new stake in shares of Freshpet during the 1st quarter worth $15,073,000. Cynosure Group LLC lifted its holdings in shares of Freshpet by 693.5% during the 1st quarter. Cynosure Group LLC now owns 16,251 shares of the company's stock worth $1,352,000 after acquiring an additional 14,203 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Freshpet during the 1st quarter worth $1,413,000. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Freshpet by 517.1% during the 1st quarter. Maryland State Retirement & Pension System now owns 16,321 shares of the company's stock worth $1,357,000 after acquiring an additional 13,676 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. initiated coverage on Freshpet in a research note on Wednesday. They issued a "neutral" rating and a $70.00 target price for the company. Robert W. Baird cut their target price on Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. UBS Group started coverage on shares of Freshpet in a research note on Monday, June 16th. They set a "sell" rating and a $65.00 price target on the stock. Finally, Benchmark reaffirmed a "buy" rating and issued a $95.00 price objective (down previously from $120.00) on shares of Freshpet in a research note on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.29.

Freshpet Trading Up 3.6%

FRPT stock traded up $2.17 during midday trading on Friday, hitting $62.62. The company had a trading volume of 904,419 shares, compared to its average volume of 1,388,957. The stock's 50 day moving average price is $68.40 and its 200 day moving average price is $81.55. Freshpet, Inc. has a 52 week low of $59.23 and a 52 week high of $164.07. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 93.46, a PEG ratio of 1.11 and a beta of 1.77. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.12 by $0.21. The firm had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. As a group, equities research analysts expect 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.