Woodline Partners LP Cuts Stake in Freshpet, Inc. (NASDAQ:FRPT)

Woodline Partners LP trimmed its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 33.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,971 shares of the company's stock after selling 108,725 shares during the quarter. Woodline Partners LP owned approximately 0.45% of Freshpet worth $32,136,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FRPT. Vanguard Group Inc. lifted its holdings in shares of Freshpet by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock worth $689,090,000 after buying an additional 46,844 shares in the last quarter. WCM Investment Management LLC increased its holdings in Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company's stock valued at $430,809,000 after acquiring an additional 110,478 shares during the last quarter. Geode Capital Management LLC lifted its stake in Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company's stock worth $127,446,000 after purchasing an additional 9,081 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Freshpet by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock valued at $120,065,000 after purchasing an additional 39,129 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Freshpet during the fourth quarter valued at about $75,253,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FRPT. Citigroup reduced their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Robert W. Baird reduced their price objective on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company cut their target price on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Benchmark reduced their price target on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $133.43.

Freshpet Trading Down 0.5%

NASDAQ FRPT traded down $0.39 during trading on Monday, hitting $84.50. The stock had a trading volume of 924,235 shares, compared to its average volume of 870,421. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 89.89 and a beta of 1.85. Freshpet, Inc. has a one year low of $71.19 and a one year high of $164.07. The stock has a 50 day simple moving average of $80.60 and a 200 day simple moving average of $118.18.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data 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). Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $263.25 million for the quarter, compared to analysts' expectations of $265.57 million. During the same quarter in the previous year, the firm earned $0.37 EPS. Freshpet's revenue was up 17.6% compared to the same quarter last year. Sell-side analysts predict 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.