Northern Trust Corp Has $60.52 Million Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Northern Trust Corp lifted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,633 shares of the company's stock after purchasing an additional 52,284 shares during the quarter. Northern Trust Corp owned 0.84% of Freshpet worth $60,523,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock valued at $30,000 after buying an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freshpet in the 3rd quarter valued at $32,000. Jones Financial Companies Lllp boosted its stake in Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after purchasing an additional 123 shares during the period. R Squared Ltd acquired a new position in Freshpet in the 4th quarter worth $39,000. Finally, IFP Advisors Inc acquired a new stake in shares of Freshpet in the 4th quarter valued at about $43,000.

Freshpet Stock Performance

Shares of NASDAQ FRPT traded down $1.57 during mid-day trading on Friday, reaching $80.47. 966,804 shares of the company were exchanged, compared to its average volume of 836,538. Freshpet, Inc. has a twelve month low of $71.19 and a twelve month high of $164.07. The stock has a market capitalization of $3.93 billion, a P/E ratio of 85.61 and a beta of 1.85. The company's 50-day simple moving average is $81.60 and its 200-day simple moving average is $122.35. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued 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). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. During the same quarter last year, the business earned $0.37 earnings per share. The company's revenue was up 17.6% on a year-over-year basis. As a group, research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday. Citigroup reduced their target price on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Truist Financial downgraded shares of Freshpet from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Finally, Oppenheimer downgraded Freshpet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $135.73.

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.