Wells Fargo & Company Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT - Free Report) had its price target trimmed by Wells Fargo & Company from $110.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus reduced their target price on Freshpet from $135.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Citigroup dropped their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price objective on Freshpet from $102.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Benchmark decreased their target price on shares of Freshpet from $195.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $135.73.

Freshpet Stock Down 1.9 %

Shares of NASDAQ FRPT traded down $1.57 during mid-day trading on Tuesday, hitting $80.47. 966,804 shares of the stock traded hands, compared to its average volume of 837,769. Freshpet has a 52 week low of $71.19 and a 52 week high of $164.07. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 85.61 and a beta of 1.85. 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 fifty day moving average price of $81.60 and a 200-day moving average price of $122.28.

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

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently added to or reduced their stakes in FRPT. Lecap Asset Management Ltd. bought a new stake in Freshpet in the 4th quarter valued at $817,000. Principal Financial Group Inc. boosted its stake in Freshpet by 36.4% during the fourth quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock worth $15,945,000 after buying an additional 28,743 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Freshpet by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 135,629 shares of the company's stock valued at $20,088,000 after buying an additional 2,291 shares during the period. Natixis Advisors LLC raised its stake in shares of Freshpet by 406.4% in the 4th quarter. Natixis Advisors LLC now owns 53,066 shares of the company's stock valued at $7,860,000 after buying an additional 42,587 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after acquiring an additional 253,679 shares during the period.

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.