Freshpet, Inc. $FRPT Shares Acquired 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 position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 760,602 shares of the company's stock after acquiring an additional 24,131 shares during the quarter. Raymond James Financial Inc. owned 1.56% of Freshpet worth $63,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRPT. XTX Topco Ltd boosted its holdings in Freshpet by 18.4% in the fourth quarter. XTX Topco Ltd now owns 1,749 shares of the company's stock valued at $259,000 after acquiring an additional 272 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Freshpet by 3.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,662 shares of the company's stock valued at $1,874,000 after acquiring an additional 364 shares during the last quarter. GeoWealth Management LLC acquired a new position in Freshpet in the fourth quarter valued at $122,000. Freedom Investment Management Inc. boosted its holdings in Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock valued at $249,000 after acquiring an additional 84 shares during the last quarter. Finally, Forum Financial Management LP acquired a new position in Freshpet in the fourth quarter valued at $215,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FRPT shares. UBS Group started coverage on Freshpet in a report on Monday, June 16th. They issued a "sell" rating and a $65.00 target price on the stock. Truist Financial cut their price objective on Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. started coverage on Freshpet in a research report on Wednesday, August 20th. 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 research report on Thursday, June 12th. Finally, Zacks Research raised Freshpet from a "strong sell" rating to a "hold" rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $109.29.

Freshpet Stock Up 3.2%

Shares of NASDAQ FRPT traded up $1.79 during midday trading on Tuesday, reaching $58.08. 1,703,795 shares of the company's stock were exchanged, compared to its average volume of 1,439,673. Freshpet, Inc. has a 52-week low of $55.77 and a 52-week high of $164.07. The stock has a market capitalization of $2.83 billion, a PE ratio of 86.69, a price-to-earnings-growth ratio of 0.99 and a beta of 1.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. The business's fifty day moving average price is $67.80 and its two-hundred day moving average price is $80.76.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its 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 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 revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. Analysts forecast that Freshpet, Inc. will post 1.55 EPS 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.