Vanguard Group Inc. Acquires 571,139 Shares of Freshpet, Inc. $FRPT

Key Points

• Vanguard Group Inc. increased its ownership in Freshpet, Inc. by 12.3%, acquiring an additional 571,139 shares during the first quarter, which brought their total holdings to 5,223,695 shares valued at approximately $434.5 million.
• A number of analysts have recently adjusted their target prices for Freshpet, with Truist Financial lowering its target from $80 to $70 and TD Cowen downgrading it from a "buy" to a "hold" rating.
• In its latest earnings report, Freshpet announced an EPS of $0.33, exceeding the consensus estimate of $0.12, while its revenue showed a 12.5% year-on-year increase.

Vanguard Group Inc. raised its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 12.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,223,695 shares of the company's stock after purchasing an additional 571,139 shares during the period. Vanguard Group Inc. owned 10.71% of Freshpet worth $434,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FRPT. Blair William & Co. IL raised its position in shares of Freshpet by 508.9% in the first quarter. Blair William & Co. IL now owns 13,255 shares of the company's stock valued at $1,102,000 after buying an additional 11,078 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Freshpet by 29.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the company's stock worth $462,000 after purchasing an additional 1,273 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Freshpet during the first quarter worth approximately $3,906,000. Blueshift Asset Management LLC acquired a new position in Freshpet during the first quarter worth approximately $484,000. Finally, Commerce Bank increased its position in Freshpet by 3.3% during the first quarter. Commerce Bank now owns 47,301 shares of the company's stock worth $3,934,000 after purchasing an additional 1,500 shares during the last quarter.

Freshpet Stock Up 1.2%

Shares of NASDAQ:FRPT traded up $0.7350 during midday trading on Tuesday, hitting $62.7550. The stock had a trading volume of 295,470 shares, compared to its average volume of 1,338,563. Freshpet, Inc. has a 12 month low of $60.50 and a 12 month high of $164.07. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. The business's 50-day simple moving average is $69.63 and its 200-day simple moving average is $84.12. The company has a market cap of $3.06 billion, a P/E ratio of 93.29, a PEG ratio of 1.08 and a beta of 1.77.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.21. The company had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%.The company's revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FRPT. UBS Group began coverage on shares of Freshpet in a research report on Monday, June 16th. They set a "sell" rating and a $65.00 price target for the company. Stifel Nicolaus set a $90.00 price target on shares of Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. DA Davidson set a $101.00 price target on shares of Freshpet in a research report on Thursday, August 7th. Robert W. Baird dropped their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Freshpet from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.36.

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.