Impax Asset Management Group plc Buys 70,000 Shares of Freshpet, Inc. $FRPT

Key Points

• Impax Asset Management doubled its stake in Freshpet in Q4, acquiring an additional 70,000 shares to hold 140,000 shares (about 0.29% of the company) valued at $8.53 million.
• Freshpet beat EPS estimates in the latest quarter ($0.64 vs. $0.43 consensus) with revenue roughly in line at $285.23M (up 8.6% YoY), and analysts retain a consensus "Moderate Buy" rating with an average target of $76.44.

Impax Asset Management Group plc lifted its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,000 shares of the company's stock after acquiring an additional 70,000 shares during the period. Impax Asset Management Group plc owned approximately 0.29% of Freshpet worth $8,530,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Freshpet by 30.5% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 34,624 shares of the company's stock worth $2,110,000 after acquiring an additional 8,097 shares during the period. M&T Bank Corp boosted its holdings in shares of Freshpet by 128.6% in the fourth quarter. M&T Bank Corp now owns 8,704 shares of the company's stock worth $530,000 after acquiring an additional 4,897 shares during the period. TD Waterhouse Canada Inc. bought a new position in shares of Freshpet in the fourth quarter worth $32,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Freshpet by 6.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,278 shares of the company's stock worth $1,114,000 after acquiring an additional 1,112 shares during the period. Finally, Bayforest Capital Ltd boosted its holdings in shares of Freshpet by 168.1% in the fourth quarter. Bayforest Capital Ltd now owns 8,372 shares of the company's stock worth $510,000 after acquiring an additional 5,249 shares during the period.

Freshpet Price Performance

NASDAQ:FRPT opened at $66.15 on Friday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 25.74 and a beta of 1.78. Freshpet, Inc. has a 52-week low of $46.76 and a 52-week high of $89.80. The stock has a fifty day moving average of $70.17 and a 200 day moving average of $63.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.57 and a current ratio of 5.54.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, research analysts expect that Freshpet, Inc. will post 1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on Freshpet from $75.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price objective on Freshpet from $90.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Benchmark lifted their price objective on Freshpet from $90.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. Bank of America dropped their price objective on Freshpet from $80.00 to $75.00 and set a "neutral" rating for the company in a research note on Friday, April 10th. Finally, Stifel Nicolaus dropped their price objective on Freshpet from $84.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $76.44.

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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