Baillie Gifford & Co. Sells 35,879 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Key Points

• Baillie Gifford & Co. reduced its holdings in Freshpet, Inc. by 73.3%, owning 13,040 shares after selling 35,879 shares during the first quarter.
• Despite a missed earnings estimate of $0.09 per share compared to the consensus of $0.13, Freshpet reported a 17.6% increase in quarterly revenue year-over-year.
• Freshpet's stock has a current market cap of $3.45 billion and an average price target of $119.14, reflecting a consensus rating of "Hold" among analysts.

Baillie Gifford & Co. cut its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 73.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,040 shares of the company's stock after selling 35,879 shares during the period. Baillie Gifford & Co.'s holdings in Freshpet were worth $1,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FRPT. Neo Ivy Capital Management bought a new stake in Freshpet in the first quarter worth approximately $2,105,000. Royce & Associates LP grew its position in Freshpet by 11.4% in the first quarter. Royce & Associates LP now owns 31,757 shares of the company's stock worth $2,641,000 after acquiring an additional 3,257 shares in the last quarter. Pier 88 Investment Partners LLC grew its position in Freshpet by 14.9% in the first quarter. Pier 88 Investment Partners LLC now owns 12,040 shares of the company's stock worth $1,001,000 after acquiring an additional 1,560 shares in the last quarter. GW&K Investment Management LLC bought a new stake in Freshpet in the first quarter worth approximately $2,681,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Freshpet by 3.4% in the first quarter. Allianz Asset Management GmbH now owns 224,091 shares of the company's stock worth $18,638,000 after buying an additional 7,369 shares during the last quarter.

Freshpet Stock Performance

Freshpet stock traded down $0.19 on Wednesday, hitting $70.74. The company's stock had a trading volume of 150,357 shares, compared to its average volume of 1,324,333. The firm has a market cap of $3.45 billion, a P/E ratio of 228.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.79. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $74.35 and a 200-day moving average price of $93.57. Freshpet, Inc. has a one year low of $66.75 and a one year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, equities analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FRPT shares. Wells Fargo & Company reduced 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. Benchmark reduced their price objective on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird reduced their price objective on shares of 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 issued a "sell" rating and a $65.00 price objective for the company. Finally, TD Cowen cut shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $119.14.

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.