Wells Fargo & Company Cuts Freshpet (NASDAQ:FRPT) Price Target to $88.00

Freshpet (NASDAQ:FRPT - Free Report) had its price objective decreased by Wells Fargo & Company from $100.00 to $88.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts have also weighed in on FRPT. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Stifel Nicolaus set a $90.00 target price on shares of Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price on the stock. in a research report on Wednesday, May 28th. Benchmark lowered their target price on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Piper Sandler lowered their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $119.14.

Freshpet Trading Down 3.3%

NASDAQ FRPT traded down $2.36 on Wednesday, reaching $68.39. The stock had a trading volume of 922,338 shares, compared to its average volume of 952,969. The stock has a fifty day moving average price of $77.06 and a two-hundred day moving average price of $99.86. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 220.61, a P/E/G ratio of 1.14 and a beta of 1.79. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. Freshpet has a 12-month low of $66.75 and a 12-month high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The firm had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, sell-side analysts forecast that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Trading of Freshpet

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Freshpet by 12.3% during the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock worth $434,455,000 after acquiring an additional 571,139 shares during the last quarter. Wellington Management Group LLP boosted its position in Freshpet by 8.1% during the first quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company's stock worth $217,590,000 after acquiring an additional 196,882 shares during the last quarter. Champlain Investment Partners LLC boosted its position in Freshpet by 9.6% during the first quarter. Champlain Investment Partners LLC now owns 1,815,884 shares of the company's stock worth $151,027,000 after acquiring an additional 158,416 shares during the last quarter. Riverbridge Partners LLC boosted its position in Freshpet by 18.0% during the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock worth $85,401,000 after acquiring an additional 156,583 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Freshpet by 1.1% during the fourth 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 last quarter.

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.