Freshpet, Inc. $FRPT Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its stake in Freshpet, Inc. by 17.1%, acquiring an additional 69,693 shares during the first quarter, bringing its total holdings to 478,326 shares.
• Freshpet's latest earnings report showed an earnings per share (EPS) of $0.33, exceeding analyst expectations of $0.12, with revenue reaching $264.69 million.
• Despite a volatile market, Freshpet's stock has an average rating of "Hold" from analysts, with a consensus price target of $109.29.

Northern Trust Corp grew its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,326 shares of the company's stock after purchasing an additional 69,693 shares during the quarter. Northern Trust Corp owned about 0.98% of Freshpet worth $39,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FRPT. Versor Investments LP lifted its holdings in Freshpet by 169.5% in the first quarter. Versor Investments LP now owns 15,898 shares of the company's stock valued at $1,322,000 after acquiring an additional 9,998 shares during the last quarter. Roubaix Capital LLC purchased a new position in Freshpet in the first quarter worth approximately $3,151,000. Raymond James Financial Inc. grew its position in Freshpet by 3.3% in the first quarter. Raymond James Financial Inc. now owns 760,602 shares of the company's stock worth $63,259,000 after acquiring an additional 24,131 shares during the period. Cresset Asset Management LLC purchased a new position in Freshpet in the first quarter worth approximately $218,000. Finally, American Century Companies Inc. grew its position in Freshpet by 171.9% in the first quarter. American Century Companies Inc. now owns 414,997 shares of the company's stock worth $34,515,000 after acquiring an additional 262,387 shares during the period.

Freshpet Stock Down 1.8%

Shares of NASDAQ:FRPT traded down $0.99 during trading on Wednesday, hitting $53.69. The company's stock had a trading volume of 223,757 shares, compared to its average volume of 1,341,512. The business has a 50 day moving average price of $66.19 and a two-hundred day moving average price of $78.17. The company has a market capitalization of $2.62 billion, a PE ratio of 80.28, a P/E/G ratio of 0.99 and a beta of 1.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. Freshpet, Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.21. The firm had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. As a group, research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Benchmark reiterated a "buy" rating and issued a $95.00 target price (down previously from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. TD Cowen downgraded shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price for the company. in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group started coverage on shares of Freshpet in a report on Monday, June 16th. They issued a "sell" rating and a $65.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Freshpet presently has a consensus rating of "Hold" and a consensus target price of $109.29.

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.