Occudo Quantitative Strategies LP Lowers Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Occudo Quantitative Strategies LP lessened its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,021 shares of the company's stock after selling 6,553 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Freshpet were worth $892,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company's stock valued at $689,090,000 after purchasing an additional 46,844 shares in the last quarter. WCM Investment Management LLC raised its holdings in Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company's stock worth $430,809,000 after acquiring an additional 110,478 shares during the period. Geode Capital Management LLC raised its holdings in Freshpet by 1.1% in the 4th 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 period. Driehaus Capital Management LLC raised its holdings in Freshpet by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company's stock worth $120,065,000 after acquiring an additional 39,129 shares during the period. Finally, Norges Bank bought a new position in Freshpet in the 4th quarter worth $75,253,000.

Freshpet Trading Down 0.6%

FRPT traded down $0.50 during trading on Monday, reaching $87.15. 317,820 shares of the company's stock were exchanged, compared to its average volume of 852,553. Freshpet, Inc. has a one year low of $71.19 and a one year 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. The stock has a market capitalization of $4.25 billion, a PE ratio of 92.81 and a beta of 1.85. The firm has a fifty day moving average price of $80.67 and a two-hundred day moving average price of $120.37.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Citigroup reduced their price target on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and dropped their price target for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Finally, Benchmark reduced 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. One investment 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 stock has a consensus rating of "Moderate Buy" and an average price target of $135.73.

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.