Freshpet, Inc. (NASDAQ:FRPT) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 5,415.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,605 shares of the company's stock after purchasing an additional 31,032 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Freshpet worth $2,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FRPT. Norges Bank acquired a new position in Freshpet in the 4th quarter valued at $75,253,000. Allspring Global Investments Holdings LLC increased its stake in Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock valued at $55,065,000 after buying an additional 253,679 shares during the period. Renaissance Technologies LLC increased its stake in Freshpet by 267.0% in the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock valued at $23,045,000 after buying an additional 113,200 shares during the period. Envestnet Asset Management Inc. increased its stake in Freshpet by 143.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company's stock valued at $25,669,000 after buying an additional 102,232 shares during the period. Finally, Sei Investments Co. increased its stake in Freshpet by 46.1% in the 4th quarter. Sei Investments Co. now owns 314,705 shares of the company's stock valued at $46,610,000 after buying an additional 99,241 shares during the period.

Freshpet Trading Down 4.5%

Shares of NASDAQ FRPT traded down $3.53 during midday trading on Friday, reaching $74.27. 1,542,707 shares of the stock were exchanged, compared to its average volume of 895,664. The company has a market capitalization of $3.62 billion, a P/E ratio of 79.01 and a beta of 1.86. Freshpet, Inc. has a 52-week low of $71.19 and a 52-week high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $79.40 and a 200-day moving average price of $110.68.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its 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). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. During the same period in the prior year, the business posted $0.37 earnings per share. Freshpet's revenue was up 17.6% on a year-over-year basis. Equities research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FRPT. Robert W. Baird dropped their price objective on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and lowered their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Stifel Nicolaus began coverage on shares of Freshpet in a research note on Thursday. They set a "buy" rating and a $90.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.07.

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.