The Manufacturers Life Insurance Company Lowers Position in Freshpet, Inc. (NASDAQ:FRPT)

The Manufacturers Life Insurance Company cut its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,685 shares of the company’s stock after selling 163 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Freshpet were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

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

Freshpet Stock Performance

Shares of FRPT stock opened at $80.47 on Monday. 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 fifty day moving average price of $81.60 and a 200 day moving average price of $122.20. The company has a market cap of $3.93 billion, a P/E ratio of 85.61 and a beta of 1.85. Freshpet, Inc. has a 12 month low of $71.19 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm 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%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. Sell-side analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on FRPT shares. Citigroup dropped their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Benchmark dropped 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. Oppenheimer downgraded shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.