Kayne Anderson Rudnick Investment Management LLC Has $26.94 Million Holdings in Freshpet, Inc. $FRPT

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Freshpet by 9.4%, owning approximately 323,943 shares worth about $26.9 million after selling 33,650 shares.
• Freshpet reported earnings of $0.33 per share for its latest quarter, surpassing analysts' expectations, with a revenue of $264.69 million, which is a 12.5% increase compared to the same period last year.
• Freshpet's stock has seen rating adjustments from various brokerages, with a consensus rating of "Moderate Buy" and an average price target of $109.29.

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 323,943 shares of the company's stock after selling 33,650 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.66% of Freshpet worth $26,942,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Freshpet during the first quarter worth about $1,706,000. Quantitative Investment Management LLC purchased a new position in shares of Freshpet during the first quarter worth about $217,000. Jump Financial LLC grew its holdings in shares of Freshpet by 688.5% during the first quarter. Jump Financial LLC now owns 96,542 shares of the company's stock worth $8,029,000 after buying an additional 84,299 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Freshpet during the first quarter worth about $4,165,000. Finally, Erste Asset Management GmbH grew its holdings in shares of Freshpet by 83.1% during the first quarter. Erste Asset Management GmbH now owns 7,710 shares of the company's stock worth $651,000 after buying an additional 3,500 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FRPT. UBS Group started coverage on shares of Freshpet in a research report on Monday, June 16th. They issued a "sell" rating and a $65.00 price objective for the company. DA Davidson set a $101.00 target price on shares of Freshpet in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price objective on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. JPMorgan Chase & Co. assumed coverage on shares of Freshpet in a report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price objective on the stock. Finally, Zacks Research upgraded shares of Freshpet from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.29.

Freshpet Stock Performance

Freshpet stock traded down $1.04 during mid-day trading on Friday, reaching $55.82. The company had a trading volume of 1,231,369 shares, compared to its average volume of 1,470,886. 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 $55.75 and a 52 week high of $164.07. The company has a 50 day moving average of $66.85 and a 200-day moving average of $79.58. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 1.00 and a beta of 1.77.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. During the same period last year, the firm earned ($0.03) EPS. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS 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.