Rhumbline Advisers Has $8.85 Million Stake in Freshpet, Inc. $FRPT

Key Points

• Rhumbline Advisers increased its stake in Freshpet, Inc. by 131.0% in the first quarter, owning 106,438 shares valued at $8.85 million.
• Freshpet reported earnings of $0.33 per share, exceeding estimates, with a revenue of $264.69 million, marking a 12.5% year-over-year increase.
• Analysts have mixed ratings on Freshpet, with a consensus target price of $108.07 and a consensus rating of "Hold".

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

Several other institutional investors and hedge funds also recently made changes to their positions in FRPT. Banque Transatlantique SA acquired a new position in shares of Freshpet in the first quarter valued at approximately $25,000. Elequin Capital LP bought a new position in shares of Freshpet during the 4th quarter worth approximately $29,000. WPG Advisers LLC bought a new position in shares of Freshpet in the 1st quarter worth $34,000. Larson Financial Group LLC lifted its holdings in shares of Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after purchasing an additional 634 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Freshpet in the 4th quarter valued at $70,000.

Freshpet Trading Down 6.3%

Shares of NASDAQ:FRPT opened at $53.41 on Thursday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 79.72, a PEG ratio of 1.01 and a beta of 1.72. 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 stock's 50-day simple moving average is $64.42 and its two-hundred day simple moving average is $75.76. Freshpet, Inc. has a 52-week low of $52.27 and a 52-week high of $164.07.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. 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, July 9th. Wall Street Zen raised Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded Freshpet from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Benchmark reaffirmed a "buy" rating and issued a $95.00 target price (down previously from $120.00) on shares of Freshpet in a research note on Tuesday, August 5th. Finally, DA Davidson set a $101.00 price objective on Freshpet in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $108.07.

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.

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