Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. cut its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 37.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,779 shares of the company's stock after selling 18,140 shares during the quarter. Freshpet accounts for about 2.2% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 16th largest holding. Savoir Faire Capital Management L.P. owned about 0.06% of Freshpet worth $2,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in 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 last quarter. Riverbridge Partners LLC boosted its stake in Freshpet by 18.0% during the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock worth $85,401,000 after acquiring an additional 156,583 shares in the last quarter. Geode Capital Management LLC boosted its stake in Freshpet by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock worth $127,446,000 after acquiring an additional 9,081 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Freshpet by 5.1% during the fourth quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock worth $120,065,000 after buying an additional 39,129 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in Freshpet by 2.3% during the first quarter. Emerald Advisers LLC now owns 509,448 shares of the company's stock worth $42,371,000 after buying an additional 11,416 shares during the last quarter.

Freshpet Stock Down 1.6%

NASDAQ:FRPT traded down $1.13 during mid-day trading on Friday, reaching $70.82. The company's stock had a trading volume of 1,055,749 shares, compared to its average volume of 963,247. Freshpet, Inc. has a 1 year low of $66.75 and a 1 year high of $164.07. The stock has a fifty day moving average of $76.04 and a 200-day moving average of $97.18. The firm has a market capitalization of $3.45 billion, a PE ratio of 228.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.79. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last released 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). The business had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The firm's revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. Equities research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FRPT. JPMorgan Chase & Co. reduced 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. Piper Sandler cut their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. UBS Group initiated coverage on shares of Freshpet in a research report on Monday, June 16th. They set a "sell" rating and a $65.00 target price for the company. Wells Fargo & Company cut their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, July 9th. Finally, Robert W. Baird cut their target price on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Freshpet currently has an average rating of "Hold" and an average target price of $119.14.

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.