Freshpet, Inc. (NASDAQ:FRPT) Stock Position Raised by Algert Global LLC

Algert Global LLC lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 53.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,444 shares of the company's stock after purchasing an additional 25,140 shares during the period. Algert Global LLC owned approximately 0.15% of Freshpet worth $10,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. M&T Bank Corp boosted its holdings in shares of Freshpet by 3.2% in the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company's stock worth $333,000 after buying an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Freshpet by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company's stock worth $805,000 after purchasing an additional 75 shares during the period. Freedom Investment Management Inc. grew its position in Freshpet by 5.3% during the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock worth $249,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC raised its stake in Freshpet by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the company's stock valued at $85,000 after purchasing an additional 92 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Freshpet by 0.8% in the fourth quarter. Arizona State Retirement System now owns 13,350 shares of the company's stock worth $1,977,000 after buying an additional 101 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FRPT shares. Wells Fargo & Company decreased their price objective on Freshpet from $142.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Oppenheimer downgraded shares of Freshpet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Robert W. Baird set a $125.00 target price on shares of Freshpet in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on shares of Freshpet from $102.00 to $91.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Truist Financial lowered Freshpet from a "buy" rating to a "hold" rating and cut their price objective for the stock from $90.00 to $80.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Freshpet presently has a consensus rating of "Moderate Buy" and an average price target of $138.80.

Freshpet Price Performance

Shares of Freshpet stock opened at $76.36 on Friday. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $83.76 and a 200-day simple moving average of $124.22. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 81.23 and a beta of 1.85. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07.

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

Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet, Inc. (NASDAQ:FRPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.