Oppenheimer Asset Management Inc. Increases Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 44.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,379 shares of the company's stock after buying an additional 14,950 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.10% of Freshpet worth $4,024,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Riverbridge Partners LLC lifted its stake 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. State of Alaska Department of Revenue purchased a new stake in shares of Freshpet during the 1st quarter valued at approximately $2,236,000. Fifth Third Bancorp increased its holdings in Freshpet by 45.0% during the 1st quarter. Fifth Third Bancorp now owns 5,181 shares of the company's stock worth $431,000 after acquiring an additional 1,608 shares during the period. Sarasin & Partners LLP increased its holdings in Freshpet by 12.5% during the 1st quarter. Sarasin & Partners LLP now owns 22,500 shares of the company's stock worth $1,871,000 after acquiring an additional 2,500 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Freshpet during the 1st quarter worth approximately $7,351,000.

Analysts Set New Price Targets

FRPT has been the topic of a number of analyst reports. Stifel Nicolaus set a $90.00 target price on shares of Freshpet and gave the stock a "buy" rating in a report on Thursday, June 12th. Piper Sandler decreased their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Robert W. Baird decreased 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. Truist Financial lowered shares of Freshpet from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $80.00 in a report on Wednesday, April 30th. Finally, Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $122.00.

Freshpet Trading Up 0.2%

Shares of Freshpet stock traded up $0.13 during trading on Friday, reaching $68.39. The company's stock had a trading volume of 1,846,765 shares, compared to its average volume of 928,417. Freshpet, Inc. has a 52-week low of $67.03 and a 52-week high of $164.07. The company 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 1.86. The firm's 50-day moving average is $77.80 and its two-hundred day moving average is $104.74. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.

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

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.