Trust Point Inc. Decreases Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Trust Point Inc. trimmed its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,290 shares of the company's stock after selling 3,770 shares during the period. Trust Point Inc.'s holdings in Freshpet were worth $689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FRPT. Congress Asset Management Co. purchased a new position in Freshpet during the fourth quarter valued at $298,000. Principal Securities Inc. purchased a new position in Freshpet during the fourth quarter valued at $85,000. Principal Financial Group Inc. lifted its holdings in Freshpet by 36.4% during the fourth quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after purchasing an additional 28,743 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Freshpet during the fourth quarter valued at $221,000. Finally, Truist Financial Corp lifted its holdings in Freshpet by 3.1% during the fourth quarter. Truist Financial Corp now owns 7,743 shares of the company's stock valued at $1,147,000 after purchasing an additional 230 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FRPT shares. Wells Fargo & Company reduced their target price on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. TD Cowen cut shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price for the company. in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their target price 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. Truist Financial cut shares of Freshpet from a "buy" rating to a "hold" rating and reduced their target price for the company from $90.00 to $80.00 in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of Freshpet from a "hold" rating to a "buy" rating and reduced their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $122.00.

Freshpet Price Performance

Freshpet stock opened at $72.45 on Tuesday. Freshpet, Inc. has a 12-month low of $70.89 and a 12-month high of $164.07. The stock has a market cap of $3.53 billion, a P/E ratio of 77.07 and a beta of 1.86. The company has a 50-day moving average price of $79.37 and a 200 day moving average price of $109.82. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The company had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Freshpet's revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. Sell-side analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.

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.

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