Wells Fargo & Company MN Has $20.80 Million Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Wells Fargo & Company MN lessened its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 41.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,462 shares of the company’s stock after selling 98,483 shares during the period. Wells Fargo & Company MN owned about 0.29% of Freshpet worth $20,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FRPT. M&T Bank Corp increased its holdings in Freshpet by 3.2% during the 4th quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after purchasing an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Freshpet by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after buying an additional 75 shares in the last quarter. GAMMA Investing LLC grew its holdings in Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after buying an additional 92 shares in the last quarter. Arizona State Retirement System raised its position in Freshpet by 0.8% in the 4th quarter. Arizona State Retirement System now owns 13,350 shares of the company’s stock valued at $1,977,000 after buying an additional 101 shares during the last quarter. Finally, Williamson Legacy Group LLC lifted its stake in Freshpet by 1.6% during the 4th quarter. Williamson Legacy Group LLC now owns 6,903 shares of the company’s stock valued at $1,022,000 after acquiring an additional 112 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Freshpet from $142.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Oppenheimer downgraded shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Freshpet from $102.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup reduced their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler decreased their price target on Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. One research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Freshpet Trading Up 2.6 %

Shares of FRPT opened at $80.19 on Friday. Freshpet, Inc. has a fifty-two week low of $72.90 and a fifty-two week high of $164.07. The business has a 50-day moving average of $99.37 and a 200 day moving average of $130.82. The firm has a market cap of $3.91 billion, a P/E ratio of 85.31 and a beta of 1.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

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