State of Alaska Department of Revenue Purchases New Stake in Freshpet, Inc. (NASDAQ:FRPT)

State of Alaska Department of Revenue bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,893 shares of the company's stock, valued at approximately $2,236,000. State of Alaska Department of Revenue owned 0.06% of Freshpet at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FRPT. Principal Securities Inc. purchased a new position in shares of Freshpet in the fourth quarter valued at $85,000. Principal Financial Group Inc. grew its stake in Freshpet by 36.4% in the 4th quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after acquiring an additional 28,743 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Freshpet during the 4th quarter valued at about $221,000. Truist Financial Corp raised its position in Freshpet by 3.1% during the fourth quarter. Truist Financial Corp now owns 7,743 shares of the company's stock worth $1,147,000 after acquiring an additional 230 shares during the last quarter. Finally, Ieq Capital LLC raised its position in Freshpet by 35.1% during the fourth quarter. Ieq Capital LLC now owns 3,632 shares of the company's stock worth $538,000 after acquiring an additional 944 shares during the last quarter.

Freshpet Stock Up 0.6%

Shares of FRPT stock traded up $0.38 on Thursday, hitting $68.26. The stock had a trading volume of 1,397,950 shares, compared to its average volume of 924,261. The stock's 50 day moving average is $77.98 and its 200-day moving average is $105.85. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 220.19, a P/E/G ratio of 1.13 and a beta of 1.86. Freshpet, Inc. has a 52-week low of $67.27 and a 52-week high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91.

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 for the quarter, compared to analyst estimates of $265.57 million. Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The firm's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. As a group, research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and lowered their target price for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the company a "buy" rating in a research report on Thursday, June 12th. Two investment 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $122.00.

About Freshpet

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.