New York State Teachers Retirement System Takes Position in Freshpet, Inc. (NASDAQ:FRPT)

New York State Teachers Retirement System bought a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,700 shares of the company's stock, valued at approximately $1,472,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Freshpet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock worth $689,090,000 after buying an additional 46,844 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Freshpet by 18.0% during the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after purchasing an additional 156,583 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Freshpet by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock valued at $127,446,000 after purchasing an additional 9,081 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Freshpet by 5.1% during the fourth quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock valued at $120,065,000 after purchasing an additional 39,129 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Freshpet during the fourth quarter valued at approximately $75,253,000.

Freshpet Stock Performance

NASDAQ:FRPT traded down $2.36 during trading hours on Friday, reaching $68.39. The company had a trading volume of 922,338 shares, compared to its average volume of 952,969. The company has a current ratio of 4.91, a quick ratio of 3.92 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 52 week low of $66.75 and a 52 week high of $164.07. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 220.61, a PEG ratio of 1.14 and a beta of 1.79. The firm's 50 day moving average price is $77.06 and its 200-day moving average price is $99.86.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The company had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. During the same period last year, the firm posted $0.37 EPS. The company's revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Piper Sandler decreased their price objective on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Stifel Nicolaus set a $90.00 price objective on shares of Freshpet and gave the stock a "buy" rating in a report on Thursday, June 12th. Wells Fargo & Company decreased their price objective on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Robert W. Baird decreased their price objective on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Freshpet has a consensus rating of "Hold" and an average target price of $119.14.

About Freshpet

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.