Public Sector Pension Investment Board Invests $12.80 Million in Freshpet, Inc. (NASDAQ:FRPT)

Key Points

• The Public Sector Pension Investment Board acquired 153,890 shares of Freshpet, Inc. (NASDAQ:FRPT) valued at approximately $12.8 million, increasing its ownership to 0.32% of the company.
• Freshpet reported a notable 12.5% year-over-year revenue increase for the quarter, alongside earnings of $0.33 per share, exceeding estimates.
• Analysts have mixed views on Freshpet, with a consensus rating of "Hold" and a price target averaging $110.36 across various research firms.

Public Sector Pension Investment Board bought a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 153,890 shares of the company's stock, valued at approximately $12,799,000. Public Sector Pension Investment Board owned about 0.32% of Freshpet at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FRPT. Vanguard Group Inc. increased its stake in shares of Freshpet by 12.3% in 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 during the period. Riverbridge Partners LLC raised its position in shares of Freshpet by 18.0% during the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock worth $85,401,000 after acquiring an additional 156,583 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of 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 acquiring an additional 39,129 shares during the last quarter. Emerald Advisers LLC raised its position in shares of Freshpet by 2.3% during the first quarter. Emerald Advisers LLC now owns 509,448 shares of the company's stock worth $42,371,000 after acquiring an additional 11,416 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Freshpet by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,870 shares of the company's stock worth $38,996,000 after acquiring an additional 28,563 shares during the last quarter.

Freshpet Trading Down 3.2%

FRPT traded down $2.05 during trading on Friday, reaching $61.24. 1,174,395 shares of the company's stock were exchanged, compared to its average volume of 1,347,311. Freshpet, Inc. has a one year low of $61.12 and a one year high of $164.07. 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 stock has a market capitalization of $2.99 billion, a PE ratio of 91.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.77. The firm has a fifty day moving average price of $70.32 and a two-hundred day moving average price of $86.54.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.21. The firm had revenue of $264.69 million for the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. As a group, equities research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FRPT has been the topic of several analyst reports. UBS Group assumed coverage on shares of Freshpet in a report on Monday, June 16th. They issued a "sell" rating and a $65.00 price objective on the stock. TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective on the stock. in a report on Wednesday, May 28th. DA Davidson set a $101.00 target price on shares of Freshpet in a research report on Thursday, August 7th. Wells Fargo & Company reduced their target price 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, Robert W. Baird reduced their target price on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Freshpet has a consensus rating of "Hold" and an average price target of $110.36.

About Freshpet

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.