Freshpet, Inc. (NASDAQ:FRPT) Stake Lessened by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 41.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,800 shares of the company's stock after selling 101,387 shares during the period. TimesSquare Capital Management LLC owned approximately 0.29% of Freshpet worth $11,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRPT. Norges Bank purchased a new position in Freshpet in the 4th quarter valued at about $75,253,000. Riverbridge Partners LLC raised its stake in shares of Freshpet by 18.0% in the 1st quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after purchasing an additional 156,583 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Freshpet by 124.0% in the 1st quarter. Principal Financial Group Inc. now owns 241,196 shares of the company's stock valued at $20,060,000 after purchasing an additional 133,539 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Freshpet by 267.0% in the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock valued at $23,045,000 after purchasing an additional 113,200 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Freshpet by 143.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company's stock valued at $25,669,000 after purchasing an additional 102,232 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRPT. UBS Group began coverage on shares of Freshpet in a research note on Monday, June 16th. They issued a "sell" rating and a $65.00 target price on the stock. Truist Financial lowered shares of Freshpet from a "buy" rating to a "hold" rating and cut their target price for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Benchmark cut their target price on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price on the stock. in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $119.14.

Freshpet Stock Performance

Shares of NASDAQ:FRPT traded down $1.05 during trading hours on Friday, hitting $70.90. The stock had a trading volume of 627,325 shares, compared to its average volume of 957,691. The stock's fifty day simple moving average is $76.23 and its 200 day simple moving average is $98.07. Freshpet, Inc. has a 1-year low of $66.75 and a 1-year high of $164.07. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 228.90, a PEG ratio of 1.16 and a beta of 1.79. 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 announced its quarterly earnings results 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 analyst estimates of $265.57 million. During the same quarter in the previous year, the business posted $0.37 EPS. Freshpet's revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet 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.