New York State Common Retirement Fund Increases Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

New York State Common Retirement Fund increased its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,972 shares of the company's stock after acquiring an additional 12,670 shares during the quarter. New York State Common Retirement Fund owned about 0.16% of Freshpet worth $6,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vident Advisory LLC lifted its position in Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock valued at $313,000 after buying an additional 82 shares during the period. Freedom Investment Management Inc. lifted its position in Freshpet by 5.3% during the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock valued at $249,000 after buying an additional 84 shares during the period. Treasurer of the State of North Carolina lifted its position in Freshpet by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 20,462 shares of the company's stock valued at $3,031,000 after buying an additional 120 shares during the period. Elequin Capital LP purchased a new position in Freshpet during the fourth quarter valued at $29,000. Finally, Tidal Investments LLC lifted its position in Freshpet by 10.4% during the fourth quarter. Tidal Investments LLC now owns 2,174 shares of the company's stock valued at $322,000 after buying an additional 205 shares during the period.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler lowered their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. Benchmark reduced their price target on Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. TD Cowen downgraded Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target for the company. in a report on Wednesday, May 28th. Stifel Nicolaus set a $90.00 price target on Freshpet and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Truist Financial downgraded Freshpet from a "buy" rating to a "hold" rating and reduced their price target for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Freshpet has a consensus rating of "Hold" and an average price target of $119.14.

Freshpet Price Performance

NASDAQ FRPT opened at $70.82 on Monday. Freshpet, Inc. has a one year low of $66.75 and a one year high of $164.07. The stock has a 50-day moving average of $76.04 and a 200 day moving average of $96.85. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 228.45, a PEG ratio of 1.34 and a beta of 1.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91.

Freshpet (NASDAQ:FRPT - Get Free Report) last released 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). Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The business had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Freshpet's quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

Freshpet 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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