Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 510,196 shares of the company's stock after selling 74,451 shares during the period. Millennium Management LLC owned 1.05% of Freshpet worth $75,565,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its position in Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock worth $30,000 after purchasing an additional 151 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after buying an additional 123 shares during the period. R Squared Ltd acquired a new position in Freshpet in the 4th quarter valued at about $39,000. IFP Advisors Inc purchased a new stake in Freshpet during the 4th quarter valued at approximately $43,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Freshpet during the 4th quarter valued at approximately $43,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FRPT. Citigroup dropped their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Benchmark cut their price objective on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Truist Financial lowered shares of Freshpet from a "buy" rating to a "hold" rating and dropped their price target for the stock from $90.00 to $80.00 in a research note on Wednesday, April 30th. Finally, Robert W. Baird reduced their price objective on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. One 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $135.73.

Freshpet Price Performance

Freshpet stock traded down $0.13 during trading hours on Monday, hitting $87.52. The stock had a trading volume of 1,171,935 shares, compared to its average volume of 855,754. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 93.11 and a beta of 1.85. The stock's fifty day moving average is $80.67 and its two-hundred day moving average is $120.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

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

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.