Teachers Retirement System of The State of Kentucky increased its position in shares of Freshpet, Inc. (NASDAQ:FRPT – Get Rating) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,044 shares of the company’s stock after acquiring an additional 427 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Freshpet were worth $1,647,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wasatch Advisors Inc. increased its holdings in Freshpet by 49.2% during the 4th quarter. Wasatch Advisors Inc. now owns 3,308,323 shares of the company’s stock worth $315,184,000 after purchasing an additional 1,090,907 shares in the last quarter. American Century Companies Inc. acquired a new stake in Freshpet during the first quarter worth approximately $105,377,000. Champlain Investment Partners LLC lifted its position in Freshpet by 23.8% during the first quarter. Champlain Investment Partners LLC now owns 2,348,060 shares of the company’s stock worth $241,005,000 after acquiring an additional 450,950 shares during the last quarter. Riverbridge Partners LLC increased its holdings in shares of Freshpet by 67.8% during the first quarter. Riverbridge Partners LLC now owns 897,644 shares of the company’s stock worth $92,134,000 after purchasing an additional 362,631 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Freshpet by 22.3% during the first quarter. Wellington Management Group LLP now owns 1,784,376 shares of the company’s stock worth $183,149,000 after purchasing an additional 325,414 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Cowen decreased their price objective on shares of Freshpet from $118.00 to $97.00 in a research note on Thursday, September 8th. Credit Suisse Group dropped their target price on Freshpet from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, September 8th. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Cowen decreased their price target on Freshpet from $118.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, September 8th. Finally, Stephens decreased their target price on Freshpet from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.
Freshpet Stock Down 1.6 %
Freshpet (NASDAQ:FRPT – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). The business had revenue of $146.01 million for the quarter, compared to the consensus estimate of $147.89 million. Freshpet had a negative return on equity of 6.21% and a negative net margin of 9.86%. The business’s revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. Sell-side analysts expect that Freshpet, Inc. will post -0.75 EPS for the current fiscal year.
Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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