Voya Investment Management LLC Decreases Stock Holdings in Freshpet, Inc. $FRPT

Key Points

• Voya Investment Management LLC drastically reduced its stake in Freshpet, Inc. by 99.4% in Q1, selling over 13 million shares and retaining approximately $6.84 million worth of stock.
• Freshpet reported $0.33 earnings per share for the latest quarter, significantly exceeding expectations, despite revenues falling short of analyst estimates.
• Several institutional investors made moves regarding Freshpet's stocks, including Larson Financial Group LLC increasing its stake by 1,585% during the same quarter.

Voya Investment Management LLC decreased its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 99.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,286 shares of the company's stock after selling 13,032,612 shares during the quarter. Voya Investment Management LLC owned approximately 0.17% of Freshpet worth $6,844,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Freshpet in the first quarter valued at $25,000. Elequin Capital LP acquired a new stake in Freshpet in the fourth quarter valued at $29,000. WPG Advisers LLC bought a new position in shares of Freshpet in the first quarter valued at about $34,000. Larson Financial Group LLC raised its position in shares of Freshpet by 1,585.0% in the first quarter. Larson Financial Group LLC now owns 674 shares of the company's stock valued at $56,000 after purchasing an additional 634 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Freshpet by 734.1% in the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after purchasing an additional 1,593 shares during the period.

Freshpet Stock Down 1.4%

Shares of NASDAQ FRPT traded down $0.72 during trading on Friday, hitting $51.40. The stock had a trading volume of 2,129,159 shares, compared to its average volume of 1,607,595. Freshpet, Inc. has a 12 month low of $50.93 and a 12 month high of $164.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. The company has a market capitalization of $2.51 billion, a PE ratio of 76.72, a PEG ratio of 0.91 and a beta of 1.72. The firm has a fifty day moving average of $62.03 and a two-hundred day moving average of $73.03.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Freshpet has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

FRPT has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Freshpet in a research report on Wednesday, August 20th. They set a "neutral" rating and a $70.00 price target on the stock. DA Davidson set a $101.00 price target on shares of Freshpet in a research note on Thursday, August 7th. Wells Fargo & Company cut their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Truist Financial lowered their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $108.07.

Insider Buying and Selling

In other Freshpet news, Director Jacki Sue Kelley purchased 814 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were purchased at an average cost of $56.50 per share, with a total value of $45,991.00. Following the completion of the purchase, the director owned 11,907 shares of the company's stock, valued at $672,745.50. The trade was a 7.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walter N. George bought 1,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the acquisition, the director directly owned 46,527 shares of the company's stock, valued at approximately $2,445,924.39. The trade was a 2.20% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,008 shares of company stock worth $332,305. Insiders own 4.43% of the company's stock.

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.