Lecap Asset Management Ltd. Buys 12,044 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Lecap Asset Management Ltd. lifted its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 218.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,558 shares of the company's stock after purchasing an additional 12,044 shares during the period. Lecap Asset Management Ltd.'s holdings in Freshpet were worth $1,460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock worth $689,090,000 after acquiring an additional 46,844 shares during the period. Riverbridge Partners LLC grew its holdings in Freshpet by 18.0% during the 1st quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock worth $85,401,000 after acquiring an additional 156,583 shares during the period. Geode Capital Management LLC grew its holdings in Freshpet by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock worth $127,446,000 after acquiring an additional 9,081 shares during the period. Driehaus Capital Management LLC grew its holdings in Freshpet by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock worth $120,065,000 after acquiring an additional 39,129 shares during the period. Finally, Norges Bank acquired a new stake in Freshpet during the 4th quarter worth $75,253,000.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their target price on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. UBS Group initiated coverage on shares of Freshpet in a report on Monday, June 16th. They set a "sell" rating and a $65.00 target price for the company. TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price for the company. in a report on Wednesday, May 28th. Finally, Benchmark lowered their target price on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $122.00.

Freshpet Stock Up 0.2%

FRPT traded up $0.13 during trading on Friday, hitting $68.39. The company had a trading volume of 1,846,765 shares, compared to its average volume of 928,417. The company has a market capitalization of $3.34 billion, a PE ratio of 220.61, a PEG ratio of 1.14 and a beta of 1.86. Freshpet, Inc. has a one year low of $67.03 and a one year high of $164.07. The firm's 50-day moving average price is $77.80 and its 200 day moving average price is $104.74. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company 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 revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, equities analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Freshpet Company 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.