Rhumbline Advisers Boosts Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Rhumbline Advisers grew its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 131.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,438 shares of the company's stock after buying an additional 60,352 shares during the period. Rhumbline Advisers owned 0.22% of Freshpet worth $8,852,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FRPT. Empowered Funds LLC acquired a new position in shares of Freshpet in the 4th quarter valued at $6,359,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Freshpet in the 4th quarter valued at $59,000. Allspring Global Investments Holdings LLC boosted its stake in Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after purchasing an additional 253,679 shares during the period. Legato Capital Management LLC boosted its stake in Freshpet by 24.7% during the 4th quarter. Legato Capital Management LLC now owns 14,172 shares of the company's stock worth $2,099,000 after purchasing an additional 2,811 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in Freshpet during the 4th quarter worth $298,000.

Freshpet Price Performance

Shares of FRPT traded down $3.53 during trading hours on Friday, reaching $74.27. The company had a trading volume of 1,542,707 shares, compared to its average volume of 895,664. The firm has a 50 day simple moving average of $79.40 and a 200-day simple moving average of $110.68. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 79.01 and a beta of 1.86. Freshpet, Inc. has a 12-month low of $71.19 and a 12-month high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. Research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial cut shares of Freshpet from a "buy" rating to a "hold" rating and decreased their price target for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Freshpet from a "hold" rating to a "buy" rating and decreased their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Benchmark decreased their price target on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company decreased their price target on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Piper Sandler decreased their price target on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.07.

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.