Merit Financial Group LLC Takes $255,000 Position in Freshpet, Inc. (NASDAQ:FRPT)

Merit Financial Group LLC bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,062 shares of the company’s stock, valued at approximately $255,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock worth $689,090,000 after acquiring an additional 46,844 shares during the period. Geode Capital Management LLC increased its holdings in Freshpet by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock worth $127,446,000 after purchasing an additional 9,081 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Freshpet by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company’s stock worth $120,065,000 after purchasing an additional 39,129 shares in the last quarter. Norges Bank bought a new stake in Freshpet during the 4th quarter worth approximately $75,253,000. Finally, Northern Trust Corp boosted its stake in shares of Freshpet by 14.7% in the 4th quarter. Northern Trust Corp now owns 408,633 shares of the company’s stock worth $60,523,000 after buying an additional 52,284 shares during the last quarter.

Freshpet Stock Performance

Freshpet stock opened at $77.80 on Friday. 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 firm has a 50-day moving average of $79.40 and a 200-day moving average of $111.54. The firm has a market cap of $3.79 billion, a P/E ratio of 82.77 and a beta of 1.86. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $263.25 million during the quarter, compared to analysts’ expectations of $265.57 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FRPT. Wells Fargo & Company cut their target price on Freshpet from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Freshpet from $91.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird decreased their price target on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Finally, TD Cowen cut Freshpet from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average target price of $126.07.

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.