Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 51.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,545 shares of the company's stock after selling 3,698 shares during the quarter. Cerity Partners LLC's holdings in Freshpet were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FRPT. Norges Bank acquired a new stake in shares of Freshpet in the 4th quarter worth $75,253,000. Riverbridge Partners LLC increased its stake in shares of Freshpet by 18.0% in 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 last quarter. Principal Financial Group Inc. increased its position in shares of Freshpet by 124.0% during the 1st quarter. Principal Financial Group Inc. now owns 241,196 shares of the company's stock worth $20,060,000 after purchasing an additional 133,539 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Freshpet by 267.0% during the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock worth $23,045,000 after purchasing an additional 113,200 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Freshpet by 143.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company's stock worth $25,669,000 after purchasing an additional 102,232 shares during the last quarter.

Freshpet Stock Performance

NASDAQ FRPT opened at $70.76 on Monday. The company has a market cap of $3.45 billion, a P/E ratio of 228.26, a P/E/G ratio of 1.41 and a beta of 1.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.92. The stock has a 50-day moving average of $75.07 and a two-hundred day moving average of $94.25. Freshpet, Inc. has a 1-year low of $66.75 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The business's quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

FRPT has been the subject of a number of recent analyst reports. UBS Group initiated coverage on Freshpet in a research report on Monday, June 16th. They set a "sell" rating and a $65.00 price objective for the company. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. cut their target price on Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. TD Cowen lowered Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price on the stock. in a research report on Wednesday, May 28th. Finally, Truist Financial lowered Freshpet from a "buy" rating to a "hold" rating and cut their target price for the company from $90.00 to $80.00 in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $119.14.

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.

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