Rock Springs Capital Management LP Sells 119,000 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Rock Springs Capital Management LP cut its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,500 shares of the company's stock after selling 119,000 shares during the period. Freshpet accounts for approximately 1.8% of Rock Springs Capital Management LP's investment portfolio, making the stock its 18th biggest holding. Rock Springs Capital Management LP owned about 0.67% of Freshpet worth $48,506,000 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. Lecap Asset Management Ltd. purchased a new stake in shares of Freshpet in the fourth quarter worth $817,000. Principal Financial Group Inc. raised its holdings in shares of Freshpet by 36.4% in the 4th quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after acquiring an additional 28,743 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Freshpet by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 135,629 shares of the company's stock valued at $20,088,000 after acquiring an additional 2,291 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Freshpet by 406.4% during the fourth quarter. Natixis Advisors LLC now owns 53,066 shares of the company's stock worth $7,860,000 after purchasing an additional 42,587 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after purchasing an additional 253,679 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on FRPT shares. Robert W. Baird set a $125.00 price objective on shares of Freshpet in a research report on Wednesday, April 16th. Piper Sandler dropped their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Stifel Nicolaus reduced their price objective on Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial dropped their target price on Freshpet from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group raised Freshpet from a "hold" rating to a "buy" rating and cut their target price for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $139.47.

Freshpet Trading Down 0.6 %

Shares of NASDAQ FRPT traded down $0.47 during trading hours on Friday, reaching $74.65. The stock had a trading volume of 747,057 shares, compared to its average volume of 811,196. The business's fifty day moving average price is $87.39 and its two-hundred day moving average price is $126.68. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 79.41 and a beta of 1.80. Freshpet, Inc. has a 52-week low of $72.20 and a 52-week high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $262.71 million during the quarter, compared to analysts' expectations of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal 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.