Granite Investment Partners LLC Sells 23,625 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Granite Investment Partners LLC decreased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 246,872 shares of the company’s stock after selling 23,625 shares during the quarter. Freshpet accounts for about 1.6% of Granite Investment Partners LLC’s investment portfolio, making the stock its 8th biggest position. Granite Investment Partners LLC owned about 0.51% of Freshpet worth $36,564,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freshpet in the 3rd quarter valued at $32,000. Jones Financial Companies Lllp raised its stake in shares of 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 buying an additional 123 shares in the last quarter. R Squared Ltd bought a new position in shares of Freshpet during the 4th quarter worth about $39,000. Finally, IFP Advisors Inc acquired a new stake in shares of Freshpet during the 4th quarter valued at about $43,000.

Analysts Set New Price Targets

FRPT has been the subject of several recent research reports. Citigroup dropped their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their target price on Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and decreased their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Wells Fargo & Company dropped their price objective on Freshpet from $142.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Truist Financial cut their price objective on Freshpet from $140.00 to $110.00 and set a “buy” rating for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.47.

Freshpet Trading Up 2.6 %

Shares of NASDAQ FRPT opened at $80.19 on Friday. Freshpet, Inc. has a 1-year low of $72.90 and a 1-year high of $164.07. The company has a 50-day moving average of $99.37 and a two-hundred day moving average of $130.82. The company has a market cap of $3.91 billion, a PE ratio of 85.31 and a beta of 1.80. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. As a group, equities analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

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.