Wellington Management Group LLP Buys 196,882 Shares of Freshpet, Inc. $FRPT

Key Points

• Wellington Management Group LLP increased its stake in Freshpet, Inc. by 8.1%, owning 5.36% of the company, which is valued at approximately $217.59 million.
• Freshpet reported $0.33 earnings per share for the last quarter, beating estimates while experiencing a 12.5% revenue increase year-over-year.
• The stock has a market capitalization of $3.04 billion and is currently rated as a "Moderate Buy" by analysts with an average target price of $110.36.

Wellington Management Group LLP raised its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,616,205 shares of the company's stock after purchasing an additional 196,882 shares during the quarter. Wellington Management Group LLP owned 5.36% of Freshpet worth $217,590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FRPT. XTX Topco Ltd grew its position in Freshpet by 18.4% in the fourth quarter. XTX Topco Ltd now owns 1,749 shares of the company's stock valued at $259,000 after acquiring an additional 272 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Freshpet by 3.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 12,662 shares of the company's stock valued at $1,874,000 after purchasing an additional 364 shares during the last quarter. GeoWealth Management LLC bought a new position in Freshpet in the 4th quarter valued at approximately $122,000. Freedom Investment Management Inc. lifted its stake in Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock valued at $249,000 after purchasing an additional 84 shares during the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of Freshpet during the fourth quarter worth $215,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FRPT shares. JPMorgan Chase & Co. began coverage on shares of Freshpet in a report on Wednesday. They issued a "neutral" rating and a $70.00 price objective for the company. UBS Group initiated coverage on shares of Freshpet in a report on Monday, June 16th. They set a "sell" rating and a $65.00 price target on the stock. Robert W. Baird decreased their price objective on Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Truist Financial cut their target price on Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Finally, TD Cowen lowered Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target on the stock. in a research report on Wednesday, May 28th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $109.29.

Freshpet Trading Up 3.6%

NASDAQ FRPT traded up $2.17 during trading hours on Friday, hitting $62.62. 904,419 shares of the company's stock were exchanged, compared to its average volume of 1,388,957. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 93.46, a PEG ratio of 1.11 and a beta of 1.77. The stock has a 50-day simple moving average of $68.40 and a 200 day simple moving average of $82.02. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 1-year low of $59.23 and a 1-year high of $164.07.

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

Freshpet Company 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.