TimesSquare Capital Management LLC trimmed its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 41.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,800 shares of the company's stock after selling 101,387 shares during the period. TimesSquare Capital Management LLC owned 0.29% of Freshpet worth $11,794,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Freshpet in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its stake in shares of Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after buying an additional 123 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Freshpet during the fourth quarter worth $70,000. GeoWealth Management LLC bought a new stake in shares of Freshpet during the fourth quarter worth $122,000. Finally, Teza Capital Management LLC bought a new stake in shares of Freshpet during the fourth quarter worth $211,000.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Truist Financial cut shares of 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 research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased 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. UBS Group began coverage on shares of Freshpet in a research note on Monday, June 16th. They set a "sell" rating and a $65.00 target price on the stock. Benchmark cut their price target on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Robert W. Baird cut their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $119.14.
Check Out Our Latest Research Report on Freshpet
Freshpet Price Performance
FRPT stock opened at $71.89 on Tuesday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 231.90, a PEG ratio of 1.14 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, Inc. has a 12-month low of $66.75 and a 12-month high of $164.07. The company's fifty day simple moving average is $77.06 and its 200 day simple moving average is $99.54.
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). The firm had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. Freshpet had a net margin of 1.54% and a return on equity of 3.16%. Freshpet's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.
About Freshpet
(
Free Report)
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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