Vanguard Group Inc. Raises Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Vanguard Group Inc. grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 12.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,223,695 shares of the company’s stock after buying an additional 571,139 shares during the quarter. Vanguard Group Inc. owned 0.11% of Freshpet worth $434,455,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Elequin Capital LP purchased a new position in Freshpet during the fourth quarter valued at $29,000. Larson Financial Group LLC lifted its stake in Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company’s stock valued at $56,000 after buying an additional 634 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Freshpet in the 4th quarter worth about $70,000. GeoWealth Management LLC acquired a new stake in Freshpet in the 4th quarter worth about $122,000. Finally, Hardy Reed LLC boosted its holdings in Freshpet by 10.4% in the 1st quarter. Hardy Reed LLC now owns 2,414 shares of the company’s stock worth $201,000 after buying an additional 228 shares during the last quarter.

Wall Street Analyst Weigh In

FRPT has been the topic of several research analyst reports. Truist Financial lowered their price objective on Freshpet from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, August 5th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company lowered their price objective on Freshpet from $100.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, July 9th. TD Cowen cut Freshpet from a “buy” rating to a “hold” rating and set a $96.00 price objective on the stock. in a report on Wednesday, May 28th. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 price objective (down from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Freshpet currently has an average rating of “Hold” and an average price target of $110.36.

Freshpet Stock Performance

NASDAQ:FRPT opened at $61.24 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 91.40, a PEG ratio of 1.12 and a beta of 1.77. The company’s 50-day moving average is $69.94 and its two-hundred day moving average is $85.86. Freshpet, Inc. has a 1-year low of $61.12 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The firm had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. During the same period in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

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.