Oregon Public Employees Retirement Fund Invests $923,000 in Freshpet, Inc. (NASDAQ:FRPT)

Oregon Public Employees Retirement Fund bought a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,100 shares of the company's stock, valued at approximately $923,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Freshpet by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock worth $689,090,000 after acquiring an additional 46,844 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in Freshpet by 18.0% in the first 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 during the period. Geode Capital Management LLC raised its position in shares of Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock worth $127,446,000 after acquiring an additional 9,081 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Freshpet by 5.1% during the fourth quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock worth $120,065,000 after purchasing an additional 39,129 shares during the period. Finally, Norges Bank bought a new stake in Freshpet in the fourth quarter worth approximately $75,253,000.

Freshpet Price Performance

NASDAQ FRPT traded up $0.64 during trading hours on Thursday, hitting $70.75. The company had a trading volume of 1,353,554 shares, compared to its average volume of 951,025. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 228.23, a PEG ratio of 1.18 and a beta of 1.79. Freshpet, Inc. has a 52 week low of $66.75 and a 52 week high of $164.07. The firm has a 50 day simple moving average of $77.26 and a 200 day simple moving average of $101.21.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share. Equities research analysts expect 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 a number of research reports. Truist Financial cut shares of Freshpet from a "buy" rating to a "hold" rating and reduced their price target for the stock from $90.00 to $80.00 in a report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday. Benchmark cut their price target on Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Stifel Nicolaus set a $90.00 price target on shares of Freshpet and gave the company a "buy" rating in a research report on Thursday, June 12th. 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $121.20.

Freshpet 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.