Nicholas Investment Partners LP Raises Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Nicholas Investment Partners LP raised its stake in Freshpet, Inc. (NASDAQ:FRPT) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,361 shares of the company’s stock after purchasing an additional 1,892 shares during the period. Nicholas Investment Partners LP’s holdings in Freshpet were worth $6,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Freshpet during the fourth quarter valued at about $75,253,000. Allspring Global Investments Holdings LLC lifted its position in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after acquiring an additional 253,679 shares during the last quarter. Renaissance Technologies LLC lifted its position in Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock valued at $23,045,000 after acquiring an additional 113,200 shares during the last quarter. WCM Investment Management LLC boosted its stake in Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after acquiring an additional 110,478 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company’s stock valued at $25,669,000 after acquiring an additional 102,232 shares in the last quarter.

Freshpet Trading Down 2.9%

Shares of NASDAQ:FRPT opened at $77.31 on Wednesday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 52-week low of $71.19 and a 52-week high of $164.07. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 82.24 and a beta of 1.85. The business has a 50-day moving average price of $80.99 and a 200-day moving average price of $121.51.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results 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 return on equity of 3.92% and a net margin of 4.81%. The business had revenue of $263.25 million for the quarter, compared to analysts’ expectations of $265.57 million. During the same period in the prior year, the business posted $0.37 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FRPT. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and reduced their price target for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped 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. Piper Sandler reduced their target price on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. Truist Financial downgraded Freshpet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $80.00 in a report on Wednesday, April 30th. Finally, Stifel Nicolaus dropped their price target on Freshpet from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.73.

Freshpet 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.