ExodusPoint Capital Management LP grew its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT – Free Report) by 115.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,096 shares of the company’s stock after buying an additional 10,761 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Freshpet were worth $1,330,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FRPT. First Republic Investment Management Inc. grew its position in Freshpet by 4.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 6,078 shares of the company’s stock valued at $315,000 after acquiring an additional 239 shares during the last quarter. Capital Impact Advisors LLC boosted its position in Freshpet by 8.4% in the 4th quarter. Capital Impact Advisors LLC now owns 3,141 shares of the company’s stock valued at $166,000 after buying an additional 243 shares during the period. Treasurer of the State of North Carolina grew its stake in Freshpet by 1.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,727 shares of the company’s stock worth $1,041,000 after acquiring an additional 250 shares in the last quarter. LPL Financial LLC increased its holdings in Freshpet by 3.6% during the 2nd quarter. LPL Financial LLC now owns 7,568 shares of the company’s stock worth $393,000 after purchasing an additional 263 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Freshpet by 3.1% during the first quarter. Arizona State Retirement System now owns 13,914 shares of the company’s stock valued at $921,000 after buying an additional 421 shares during the period.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Freshpet from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $84.00 in a report on Tuesday, August 8th. TheStreet upgraded shares of Freshpet from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Robert W. Baird boosted their price objective on shares of Freshpet from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Citigroup increased their target price on Freshpet from $71.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Finally, Truist Financial boosted their price target on Freshpet from $55.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.
Freshpet Stock Performance
FRPT opened at $75.74 on Monday. The company has a market cap of $3.65 billion, a P/E ratio of -57.38 and a beta of 0.95. The company has a quick ratio of 5.45, a current ratio of 6.29 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $71.55 and its 200-day moving average price is $66.82. Freshpet, Inc. has a 52-week low of $36.02 and a 52-week high of $84.70.
Freshpet (NASDAQ:FRPT – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Freshpet had a negative net margin of 9.45% and a negative return on equity of 6.39%. The business had revenue of $183.30 million for the quarter, compared to analyst estimates of $184.71 million. During the same quarter in the prior year, the business posted ($0.45) EPS. Freshpet’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, equities analysts anticipate that Freshpet, Inc. will post -1 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Walter N. George purchased 1,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of $73.53 per share, for a total transaction of $73,530.00. Following the purchase, the director now owns 47,176 shares in the company, valued at $3,468,851.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is currently owned by company insiders.
Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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