Riverbridge Partners LLC Grows Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Riverbridge Partners LLC boosted its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,026,829 shares of the company's stock after purchasing an additional 156,583 shares during the quarter. Freshpet comprises about 1.4% of Riverbridge Partners LLC's holdings, making the stock its 24th largest position. Riverbridge Partners LLC owned 2.11% of Freshpet worth $85,401,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FRPT. Vanguard Group Inc. lifted its holdings in shares of Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock worth $689,090,000 after acquiring an additional 46,844 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock valued at $127,446,000 after purchasing an additional 9,081 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Freshpet by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock valued at $120,065,000 after purchasing an additional 39,129 shares during the last quarter. Norges Bank acquired a new position in shares of Freshpet in the 4th quarter valued at $75,253,000. Finally, Northern Trust Corp boosted its holdings in shares of Freshpet by 14.7% in the 4th quarter. Northern Trust Corp now owns 408,633 shares of the company's stock valued at $60,523,000 after purchasing an additional 52,284 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on FRPT. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $80.00 in a report on Wednesday, April 30th. UBS Group assumed coverage on Freshpet in a report on Monday, June 16th. They set a "sell" rating and a $65.00 target price for the company. Jefferies Financial Group upgraded Freshpet from a "hold" rating to a "buy" rating and decreased their target price for the stock from $155.00 to $150.00 in a report on Monday, February 24th. Finally, Benchmark decreased their target price on Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $122.00.

Freshpet Stock Down 3.4%

NASDAQ FRPT traded down $2.53 on Monday, reaching $71.60. The company had a trading volume of 1,493,656 shares, compared to its average volume of 908,556. The firm has a market capitalization of $3.49 billion, a PE ratio of 230.97, a P/E/G ratio of 1.24 and a beta of 1.86. Freshpet, Inc. has a 1 year low of $70.65 and a 1 year high of $164.07. The firm has a 50-day moving average of $78.48 and a 200-day moving average of $106.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.92.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share 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 return on equity of 3.16% and a net margin of 1.54%. The firm's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current fiscal 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.