Occudo Quantitative Strategies LP Trims Position in Freshpet, Inc. (NASDAQ:FRPT)

Occudo Quantitative Strategies LP trimmed its position in Freshpet, Inc. (NASDAQ:FRPT) by 52.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,021 shares of the company’s stock after selling 6,553 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Freshpet were worth $892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FRPT. Norges Bank bought a new stake in Freshpet during the 4th quarter worth approximately $75,253,000. Allspring Global Investments Holdings LLC grew its position in shares of Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Freshpet by 267.0% in the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock worth $23,045,000 after purchasing an additional 113,200 shares during the period. WCM Investment Management LLC raised its position in shares of Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after buying an additional 110,478 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company’s stock worth $25,669,000 after buying an additional 102,232 shares in the last quarter.

Freshpet Price Performance

FRPT stock opened at $77.31 on Wednesday. The firm has a market cap of $3.77 billion, a P/E ratio of 82.24 and a beta of 1.85. The firm’s fifty day moving average is $80.99 and its 200 day moving average is $121.51. Freshpet, Inc. has a 52 week low of $71.19 and a 52 week high of $164.07. 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 announced 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). The company had revenue of $263.25 million for the quarter, compared to the consensus estimate of $265.57 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analyst Ratings Changes

FRPT has been the topic of a number of research analyst reports. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Citigroup cut their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Robert W. Baird lowered their target price on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Piper Sandler cut their price target on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.