Freshpet, Inc. $FRPT Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its stake in Freshpet, Inc. (NASDAQ:FRPT) by 3.3%, now owning 1.56% of the company worth about $63.3 million.
• Freshpet recently reported quarterly earnings of $0.33 EPS, surpassing the consensus estimate by $0.21, and showing a revenue growth of 12.5% year-over-year.
• A majority of analysts are optimistic about Freshpet's future, with eight analysts rating it as a Buy and an average target price of $109.29.

Raymond James Financial Inc. boosted its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 760,602 shares of the company's stock after acquiring an additional 24,131 shares during the period. Raymond James Financial Inc. owned 1.56% of Freshpet worth $63,259,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FRPT. Elequin Capital LP acquired a new position in Freshpet in the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its position in Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock valued at $56,000 after acquiring an additional 634 shares during the period. Morse Asset Management Inc acquired a new position in Freshpet in the 4th quarter valued at about $70,000. GeoWealth Management LLC acquired a new position in Freshpet in the 4th quarter valued at about $122,000. Finally, Hardy Reed LLC increased its position in Freshpet by 10.4% in the 1st quarter. Hardy Reed LLC now owns 2,414 shares of the company's stock valued at $201,000 after acquiring an additional 228 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Cowen lowered 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 price objective on Freshpet in a report on Thursday, August 7th. JPMorgan Chase & Co. assumed coverage on Freshpet in a report on Wednesday. They issued a "neutral" rating and a $70.00 price objective on the stock. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Wall Street Zen raised Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Freshpet has a consensus rating of "Moderate Buy" and a consensus target price of $109.29.

Freshpet Price Performance

Shares of NASDAQ:FRPT traded up $2.17 during trading on Friday, hitting $62.62. 904,419 shares of the stock were exchanged, compared to its average volume of 1,388,957. The company has a fifty day moving average price of $68.40 and a two-hundred day moving average price of $82.02. The company has a market cap of $3.05 billion, a PE ratio of 93.46, a P/E/G ratio of 1.11 and a beta of 1.77. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 12-month low of $59.23 and a 12-month high of $164.07.

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

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.