GW&K Investment Management LLC Sells 16,733 Shares of Freshpet, Inc. $FRPT

Key Points

• GW&K Investment Management LLC reduced its stake in Freshpet by 6.7% in Q3, selling 16,733 shares and finishing the quarter with 231,863 shares worth roughly $12.78 million (0.48% of the company).
• Freshpet beat EPS estimates in its most recent quarter, reporting $0.64 per share vs. $0.43 expected and revenue of $285.23 million (up 8.6% year-over-year), with a 12.63% net margin and 6.93% return on equity.
• Analyst sentiment is mixed: the consensus rating is a "Hold" with a $76.47 price target, while the stock recently traded near $82.64 and the company has a market cap of about $4.05 billion.

GW&K Investment Management LLC reduced its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,863 shares of the company's stock after selling 16,733 shares during the period. GW&K Investment Management LLC owned 0.48% of Freshpet worth $12,778,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock worth $34,000 after purchasing an additional 472 shares during the last quarter. State of Wyoming bought a new position in Freshpet during the 2nd quarter worth $34,000. Ossiam raised its holdings in Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company's stock valued at $35,000 after acquiring an additional 228 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 buying an additional 391 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Freshpet during the third quarter worth about $64,000.

Freshpet Stock 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 market capitalization of $4.05 billion, a PE ratio of 32.16, a PEG ratio of 2.61 and a beta of 1.66. The firm's fifty day moving average is $70.28 and its 200 day moving average is $60.94. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FRPT shares. Weiss Ratings upgraded shares of Freshpet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft downgraded Freshpet from a "buy" rating to a "hold" rating and set a $62.00 price objective for the company. in a research report on Monday, December 15th. Zacks Research raised shares of Freshpet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 18th. Stephens restated an "overweight" rating and set a $90.00 price objective on shares of Freshpet in a research report on Tuesday, February 24th. Finally, Benchmark upped their target price on Freshpet from $80.00 to $90.00 and gave the stock a "buy" rating 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 assigned a Sell rating to the company. According to MarketBeat.com, Freshpet has a consensus rating of "Hold" and a consensus price target of $76.47.

About Freshpet

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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