Riverbridge Partners LLC Boosts Position in Freshpet, Inc. (NASDAQ:FRPT)

Riverbridge Partners LLC raised its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,026,829 shares of the company's stock after acquiring an additional 156,583 shares during the quarter. Freshpet comprises 1.4% of Riverbridge Partners LLC's portfolio, making the stock its 24th largest position. Riverbridge Partners LLC owned approximately 2.11% of Freshpet worth $85,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Freshpet in the first quarter valued at approximately $2,236,000. Fifth Third Bancorp boosted its holdings in shares of Freshpet by 45.0% during the first quarter. Fifth Third Bancorp now owns 5,181 shares of the company's stock worth $431,000 after acquiring an additional 1,608 shares during the period. Sarasin & Partners LLP boosted its holdings in shares of Freshpet by 12.5% during the first quarter. Sarasin & Partners LLP now owns 22,500 shares of the company's stock worth $1,871,000 after acquiring an additional 2,500 shares during the period. SG Americas Securities LLC bought a new stake in shares of Freshpet in the first quarter valued at about $7,351,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Freshpet in the first quarter valued at about $1,510,000.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Truist Financial lowered Freshpet from a "buy" rating to a "hold" rating and cut their price objective for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Piper Sandler dropped their price target on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. Finally, Stifel Nicolaus set a $90.00 price objective on shares of Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $122.00.

Freshpet Stock Up 3.4%

NASDAQ:FRPT traded up $2.41 during trading hours on Friday, hitting $74.13. 1,030,996 shares of the company traded hands, compared to its average volume of 904,286. The company has a market cap of $3.62 billion, a PE ratio of 239.13, a PEG ratio of 1.20 and a beta of 1.86. Freshpet, Inc. has a one year low of $70.65 and a one year high of $164.07. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $78.68 and its 200-day simple moving average is $108.16.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The firm had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. During the same quarter in the previous year, the company posted $0.37 EPS. Freshpet's revenue for the quarter was up 17.6% on a year-over-year basis. Equities analysts predict that Freshpet, Inc. will post 1.55 earnings per share 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.