Freshpet, Inc. $FRPT Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman trimmed its stake in Freshpet by 21.4% in Q3, selling 39,165 shares and now holds 144,121 shares (about 0.30% of the company) worth $7.943 million.
• Analysts are mixed—eight Buys, nine Holds and one Sell—giving an average rating of "Hold" with an average target of $76.47, though Morgan Stanley, Wells Fargo and Stephens recently raised targets toward $90.
• Freshpet beat EPS expectations ($0.64 vs. $0.43) with revenue of $285.23M (up 8.6% YoY and roughly in line with estimates); the stock opened at $82.64, has a market cap of $4.05B and a 12‑month range of $46.76–$97.00.

Neuberger Berman Group LLC trimmed its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 21.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,121 shares of the company's stock after selling 39,165 shares during the period. Neuberger Berman Group LLC owned approximately 0.30% of Freshpet worth $7,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock worth $34,000 after buying an additional 472 shares in the last quarter. State of Wyoming bought a new position in Freshpet during the second quarter valued at about $34,000. Ossiam grew its holdings in Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company's stock worth $35,000 after acquiring an additional 228 shares during the period. Smartleaf Asset Management LLC grew its holdings in Freshpet by 258.9% during the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company's stock worth $37,000 after acquiring an additional 391 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Freshpet in the third quarter worth about $64,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FRPT. Deutsche Bank Aktiengesellschaft downgraded shares of Freshpet from a "buy" rating to a "hold" rating and set a $62.00 price target for the company. in a report on Monday, December 15th. Wells Fargo & Company increased their price target on Freshpet from $82.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Morgan Stanley upgraded Freshpet from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $71.00 to $90.00 in a report on Tuesday, February 24th. Stephens reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Freshpet in a research note on Tuesday, February 24th. Finally, TD Cowen set a $60.00 target price on shares of Freshpet in a report on Tuesday, February 24th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $76.47.

Freshpet Trading Down 3.0%

Freshpet stock opened at $82.64 on Friday. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $97.00. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.05 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.53 and a beta of 1.66. The company's fifty day simple moving average is $70.28 and its 200-day simple moving average is $60.93.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. During the same period last year, the company earned $0.36 earnings per share. Freshpet's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Freshpet Profile

Freshpet Inc NASDAQ: FRPT is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

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