Nuveen LLC Takes Position 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 bought a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Freshpet by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock valued at $434,455,000 after buying an additional 571,139 shares in the last quarter. Riverbridge Partners LLC raised its position in shares of Freshpet by 18.0% during the 1st quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after buying an additional 156,583 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Freshpet by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock valued at $120,065,000 after buying an additional 39,129 shares in the last quarter. Emerald Advisers LLC raised its position in shares of Freshpet by 2.3% during the 1st quarter. Emerald Advisers LLC now owns 509,448 shares of the company's stock valued at $42,371,000 after buying an additional 11,416 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Freshpet by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 468,870 shares of the company's stock valued at $38,996,000 after buying an additional 28,563 shares in the last quarter.

Freshpet Trading Up 3.2%

Shares of FRPT traded up $1.79 during trading hours on Tuesday, reaching $58.08. 1,703,795 shares of the company traded hands, compared to its average volume of 1,439,673. The company's fifty day moving average price is $67.80 and its two-hundred day moving average price is $80.76. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 86.69, a price-to-earnings-growth ratio of 0.99 and a beta of 1.77. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 12 month low of $55.77 and a 12 month high of $164.07.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FRPT shares. Zacks Research raised shares of Freshpet from a "strong sell" rating to a "hold" rating in a report on Friday. UBS Group started coverage on shares of Freshpet in a report on Monday, June 16th. They set a "sell" rating and a $65.00 target price on the stock. Robert W. Baird reduced their target price on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Benchmark reaffirmed a "buy" rating and set a $95.00 target price (down previously from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. Finally, Wells Fargo & Company reduced their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Freshpet has a consensus rating of "Hold" and a consensus 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.