Focus Partners Wealth Increases Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Focus Partners Wealth increased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,597 shares of the company’s stock after buying an additional 545 shares during the quarter. Focus Partners Wealth owned about 0.06% of Freshpet worth $4,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FRPT. Norges Bank purchased a new position in Freshpet during the fourth quarter worth approximately $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 worth $55,065,000 after buying an additional 253,679 shares in 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 worth $23,045,000 after buying an additional 113,200 shares in the last quarter. WCM Investment Management LLC lifted its position in Freshpet by 4.0% during 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. lifted its position in Freshpet by 143.8% during 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 opened at $78.78 on Thursday. The stock’s 50-day moving average price is $80.63 and its 200 day moving average price is $121.22. Freshpet, Inc. has a 12-month low of $71.19 and a 12-month high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 83.81 and a beta of 1.85.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. During the same period in the previous year, the company posted $0.37 EPS. Freshpet’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect 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 analyst reports. Piper Sandler reduced their price objective on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. Benchmark decreased their price target on Freshpet from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird decreased their price target on Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Freshpet from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, Truist Financial lowered Freshpet from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.73.

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.