Nuveen LLC Makes New Investment in Freshpet, Inc. $FRPT

Key Points

• Nuveen LLC has made a new investment of approximately $15.07 million in Freshpet, Inc., acquiring 181,229 shares of the company, which constitutes about 0.37% of its total holdings.
• Several institutional investors, including Vanguard Group Inc. and Principal Financial Group Inc., have increased their stakes in Freshpet, with Vanguard raising its position by 12.3%.
• Freshpet recently reported a quarterly earnings per share of $0.33, exceeding analysts' expectations, despite a slight miss on revenue with $264.69 million against a forecast of $269.75 million.

Nuveen LLC acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 181,229 shares of the company's stock, valued at approximately $15,073,000. Nuveen LLC owned approximately 0.37% of Freshpet at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FRPT. Elequin Capital LP acquired a new position in Freshpet during the 4th quarter worth $29,000. Larson Financial Group LLC grew its holdings in Freshpet by 1,585.0% during the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after acquiring an additional 634 shares in the last quarter. Morse Asset Management Inc acquired a new position in Freshpet during the 4th quarter worth $70,000. GeoWealth Management LLC acquired a new position in Freshpet during the 4th quarter worth $122,000. Finally, Hardy Reed LLC grew its holdings in Freshpet by 10.4% during the 1st quarter. Hardy Reed LLC now owns 2,414 shares of the company's stock worth $201,000 after acquiring an additional 228 shares in the last quarter.

Freshpet Stock Performance

Freshpet stock traded up $2.17 during midday trading on Friday, reaching $62.62. 904,419 shares of the stock traded hands, compared to its average volume of 1,388,957. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $68.40 and a two-hundred day moving average price of $82.02. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 93.46, a PEG ratio of 1.11 and a beta of 1.77. Freshpet, Inc. has a fifty-two week low of $59.23 and a fifty-two week high of $164.07.

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

Wall Street Analyst Weigh In

FRPT has been the subject of several recent analyst reports. TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a report on Wednesday, May 28th. Wall Street Zen raised shares of Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. DA Davidson set a $101.00 price target on shares of Freshpet in a report on Thursday, August 7th. Wells Fargo & Company decreased their price target on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, July 9th. Finally, Truist Financial decreased their price target 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. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.