Balyasny Asset Management L.P. Reduces Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Balyasny Asset Management L.P. cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 56.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,865 shares of the company’s stock after selling 39,197 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Freshpet were worth $4,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the third quarter valued at approximately $32,000. GAMMA Investing LLC grew its holdings in Freshpet by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $85,000 after buying an additional 92 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position 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. Breakwater Capital Group purchased a new stake in shares of Freshpet in the fourth quarter valued at $251,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Freshpet during the fourth quarter valued at $585,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Freshpet from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Robert W. Baird cut their price target on Freshpet from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Truist Financial lowered Freshpet from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on Freshpet from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, Benchmark lowered their target price on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.73.

Freshpet Stock Down 1.9 %

Shares of Freshpet stock opened at $80.47 on Friday. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07. The business has a 50-day moving average of $81.60 and a 200-day moving average of $122.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a market capitalization of $3.93 billion, a PE ratio of 85.61 and a beta of 1.85.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. Freshpet’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, equities analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

About Freshpet

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.