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

Focus Partners Wealth boosted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,597 shares of the company’s stock after acquiring an additional 545 shares during the period. Focus Partners Wealth’s holdings in Freshpet were worth $4,236,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Freshpet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock worth $689,090,000 after purchasing an additional 46,844 shares during the period. WCM Investment Management LLC increased its holdings in Freshpet by 4.0% during the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after purchasing an additional 110,478 shares during the period. Geode Capital Management LLC increased its holdings in shares of Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock valued at $127,446,000 after acquiring an additional 9,081 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Freshpet by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company’s stock valued at $120,065,000 after acquiring an additional 39,129 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Freshpet in the 4th quarter valued at about $75,253,000.

Analyst Ratings Changes

FRPT has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Freshpet from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Robert W. Baird dropped their price objective on Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Oppenheimer downgraded Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Citigroup dropped their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Benchmark dropped their price objective on Freshpet from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. One equities 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.73.

Freshpet Stock Up 1.9%

Shares of NASDAQ FRPT opened at $78.78 on Thursday. Freshpet, Inc. has a 52-week low of $71.19 and a 52-week high of $164.07. The business has a 50-day moving average price of $80.63 and a 200 day moving average price of $121.22. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.84 billion, a PE ratio of 83.81 and a beta of 1.85.

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