Once Upon A Farm $OFRM Shares Acquired by Nicholas Investment Partners LP

Key Points

• Nicholas Investment Partners LP increased its Once Upon A Farm stake by 271.9% in the second quarter, holding 784,166 shares worth approximately $16.1 million, or 1.87% of the company. BlackRock also more than tripled its position, while several other institutions initiated or expanded holdings.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, five Hold and one Sell, resulting in a consensus Hold rating and an average price target of $25.88. JPMorgan raised its target to $26, while Barclays lifted its target to $19 but maintained an Equal Weight rating.
• OFRM opened at $17.79, versus a 52-week range of $14.00 to $27.00, and reported quarterly revenue of $85.39 million. Its adjusted loss of $0.12 per share was better than the consensus estimate of a $0.18 loss.

Nicholas Investment Partners LP lifted its stake in shares of Once Upon A Farm (NYSE:OFRM - Free Report) by 271.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 784,166 shares of the organic kids food company's stock after purchasing an additional 573,285 shares during the period. Nicholas Investment Partners LP owned about 1.87% of Once Upon A Farm worth $16,060,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its holdings in Once Upon A Farm by 225.9% in the second quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company's stock valued at $17,596,000 after buying an additional 595,571 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Once Upon A Farm during the 2nd quarter worth approximately $1,665,000. Bank of New York Mellon Corp bought a new position in Once Upon A Farm during the 2nd quarter worth approximately $781,000. Finally, Deutsche Bank AG grew its position in shares of Once Upon A Farm by 3.0% in the 2nd quarter. Deutsche Bank AG now owns 102,990 shares of the organic kids food company's stock worth $2,109,000 after acquiring an additional 2,990 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Once Upon A Farm from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Barclays raised their price objective on Once Upon A Farm from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Evercore set a $23.00 price objective on shares of Once Upon A Farm in a report on Friday, May 8th. Weiss Ratings upgraded shares of Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Once Upon A Farm from $22.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Once Upon A Farm has a consensus rating of "Hold" and an average target price of $25.88.

Once Upon A Farm Price Performance

NYSE:OFRM opened at $17.79 on Tuesday. The company's 50 day moving average is $18.10. The company has a market capitalization of $746.79 million and a price-to-earnings ratio of -49.40. Once Upon A Farm has a 52 week low of $14.00 and a 52 week high of $27.00.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $85.39 million during the quarter. On average, sell-side analysts forecast that Once Upon A Farm will post -0.22 EPS for the current fiscal year.

Once Upon A Farm Profile

Once Upon A Farm NYSE: OFRM is a U.S.-based producer of refrigerated organic foods for infants, toddlers and young children. The company’s product lineup emphasizes cold-pressed, organic purees, blends and smoothies formulated for early childhood nutrition. Its offerings are positioned around whole-food ingredients, limited processing and claims of no artificial preservatives or added sugars, with packaging designed for convenience and on-the-go feeding.

Once Upon A Farm distributes its products through a combination of retail and direct-to-consumer channels, serving customers primarily across the United States.

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