Algert Global LLC Sells 40,385 Shares of Freshpet, Inc. $FRPT

Key Points

• Algert Global LLC significantly reduced its stake in Freshpet, Inc. by 55.7% in the 1st quarter, now holding about 0.07% of the company.
• Vanguard Group Inc. and American Century Companies Inc. both increased their investments in Freshpet, raising stakes by 12.3% and 171.9% respectively during the same period.
• Freshpet reported earnings of $0.33 per share for the quarter, exceeding analysts' expectations, along with a 12.5% increase in revenue year-over-year.

Algert Global LLC lowered its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 55.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,059 shares of the company's stock after selling 40,385 shares during the period. Algert Global LLC owned 0.07% of Freshpet worth $2,666,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elequin Capital LP acquired a new position in shares of Freshpet in the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its position in shares of Freshpet by 1,585.0% during the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock valued at $56,000 after acquiring an additional 634 shares during the period. Morse Asset Management Inc acquired a new position in shares of Freshpet during the 4th quarter valued at $70,000. GeoWealth Management LLC acquired a new position in shares of Freshpet during the 4th quarter valued at $122,000. Finally, Hardy Reed LLC lifted its position in shares of Freshpet by 10.4% during the 1st quarter. Hardy Reed LLC now owns 2,414 shares of the company's stock valued at $201,000 after acquiring an additional 228 shares during the period.

Wall Street Analysts Forecast Growth

FRPT has been the topic of a number of research reports. UBS Group initiated coverage on shares of Freshpet in a research report on Monday, June 16th. They set a "sell" rating and a $65.00 target price on the stock. Truist Financial dropped their target price on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of Freshpet in a research report on Wednesday. They set a "neutral" rating and a $70.00 target price on the stock. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company dropped their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.29.

Freshpet Stock Up 3.6%

FRPT stock traded up $2.17 during midday trading on Friday, reaching $62.62. 904,419 shares of the company's stock traded hands, compared to its average volume of 1,388,957. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 93.46, a P/E/G ratio of 1.11 and a beta of 1.77. The firm's fifty day moving average price is $68.40 and its 200-day moving average price is $82.02. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 52 week low of $59.23 and a 52 week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. The business had revenue of $264.69 million during the quarter, compared to analyst estimates of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. Freshpet's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. Freshpet has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

About Freshpet

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.