Envestnet Asset Management Inc. Buys 13,004 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Envestnet Asset Management Inc. increased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,314 shares of the company’s stock after buying an additional 13,004 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Freshpet worth $15,496,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FRPT. Jones Financial Companies Lllp grew its stake in Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Freshpet during the 4th quarter worth $2,106,000. HighTower Advisors LLC grew its stake in shares of Freshpet by 36.6% during the 4th quarter. HighTower Advisors LLC now owns 7,945 shares of the company’s stock worth $1,177,000 after acquiring an additional 2,128 shares during the period. Swiss National Bank grew its stake in shares of Freshpet by 0.9% during the 4th quarter. Swiss National Bank now owns 90,650 shares of the company’s stock worth $13,426,000 after acquiring an additional 800 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Freshpet by 406.4% during the 4th quarter. Natixis Advisors LLC now owns 53,066 shares of the company’s stock worth $7,860,000 after acquiring an additional 42,587 shares during the period.

Analyst Ratings Changes

FRPT has been the topic of a number of recent research reports. UBS Group initiated coverage on Freshpet in a report on Monday, June 16th. They set a “sell” rating and a $65.00 price objective on the stock. Stifel Nicolaus set a $90.00 price target on Freshpet and gave the company a “buy” rating in a report on Thursday, June 12th. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price objective on Freshpet from $91.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Finally, Benchmark reduced their price objective on Freshpet from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $119.14.

Freshpet Price Performance

NASDAQ:FRPT opened at $71.95 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.92 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.51 billion, a P/E ratio of 232.10, a P/E/G ratio of 1.16 and a beta of 1.79. Freshpet, Inc. has a 12 month low of $66.75 and a 12 month high of $164.07. The business’s 50-day moving average is $76.23 and its 200 day moving average is $98.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The company had revenue of $263.25 million for the quarter, compared to analysts’ expectations of $265.57 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

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.