State of Alaska Department of Revenue Takes $2.24 Million Position in Freshpet, Inc. (NASDAQ:FRPT)

State of Alaska Department of Revenue acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 26,893 shares of the company's stock, valued at approximately $2,236,000. State of Alaska Department of Revenue owned approximately 0.06% of Freshpet at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FRPT. Elequin Capital LP bought a new position in shares of Freshpet during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp boosted its stake in shares of Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after acquiring an additional 123 shares during the period. IFP Advisors Inc bought a new position in shares of Freshpet during the 4th quarter worth approximately $43,000. SBI Securities Co. Ltd. bought a new position in Freshpet during the fourth quarter worth $43,000. Finally, Morse Asset Management Inc bought a new position in Freshpet during the fourth quarter worth $70,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Benchmark cut their price objective on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Truist Financial downgraded shares of Freshpet from a "buy" rating to a "hold" rating and cut their price objective for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. TD Cowen downgraded shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a report on Wednesday, May 28th. Finally, Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $122.00.

Freshpet Stock Up 3.4%

NASDAQ FRPT opened at $74.13 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91. The company has a market capitalization of $3.62 billion, a P/E ratio of 239.13, a P/E/G ratio of 1.24 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 stock has a 50 day moving average price of $78.68 and a 200-day moving average price of $107.50.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The firm had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. During the same quarter last year, the business posted $0.37 EPS. Freshpet's revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts predict 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.

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