Woodline Partners LP Has $32.14 Million Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Woodline Partners LP lowered its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 33.4% in the fourth 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 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FRPT. JPMorgan Chase & Co. reduced their price target on Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Citigroup cut their price objective on Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Freshpet from a "hold" rating to a "buy" rating and cut their price objective for the company from $155.00 to $150.00 in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Benchmark cut their price objective on Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $133.43.

Freshpet Trading Down 0.5%

Shares of NASDAQ:FRPT traded down $0.39 during midday trading on Friday, reaching $84.50. The company had a trading volume of 924,235 shares, compared to its average volume of 868,997. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 89.89 and a beta of 1.85. The company has a fifty day simple moving average of $80.60 and a two-hundred day simple moving average of $118.68.

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

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.