Comerica Bank Buys Shares of 29,574 Freshpet, Inc. (NASDAQ:FRPT)

Comerica Bank purchased a new stake in shares of Freshpet, Inc. (NASDAQ:FRPTGet Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 29,574 shares of the company’s stock, valued at approximately $1,632,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Freshpet by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,829,031 shares of the company’s stock valued at $393,011,000 after acquiring an additional 20,974 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Freshpet by 56.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 3,670,870 shares of the company’s stock worth $190,481,000 after buying an additional 1,322,810 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Freshpet by 5.2% during the 1st quarter. Wasatch Advisors Inc. now owns 3,479,089 shares of the company’s stock worth $357,094,000 after buying an additional 170,766 shares during the last quarter. FMR LLC grew its stake in shares of Freshpet by 214.1% in the second quarter. FMR LLC now owns 1,865,620 shares of the company’s stock worth $96,807,000 after purchasing an additional 1,271,638 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Freshpet by 22.3% in 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 in the last quarter.

Freshpet Stock Performance

Shares of FRPT opened at $62.63 on Friday. The stock has a fifty day moving average price of $58.77 and a two-hundred day moving average price of $53.75. Freshpet, Inc. has a 52-week low of $36.02 and a 52-week high of $118.77. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -43.19 and a beta of 0.90.

Freshpet (NASDAQ:FRPTGet Rating) last released its earnings results on Tuesday, November 1st. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.16). The firm had revenue of $151.33 million during the quarter, compared to analyst estimates of $147.82 million. Freshpet had a negative net margin of 12.07% and a negative return on equity of 7.55%. As a group, research analysts predict that Freshpet, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FRPT has been the subject of several analyst reports. Piper Sandler upped their target price on Freshpet from $69.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, December 7th. Citigroup raised Freshpet from a “sell” rating to a “neutral” rating and upped their target price for the company from $32.00 to $66.00 in a report on Thursday, November 3rd. Cowen reduced their target price on Freshpet from $97.00 to $82.00 in a report on Wednesday, November 2nd. Oppenheimer upped their target price on Freshpet from $65.00 to $80.00 and gave the company a “top pick” rating in a report on Tuesday, November 8th. Finally, Cowen reduced their price objective on Freshpet from $82.00 to $80.00 in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Freshpet Company Profile

(Get Rating)

Freshpet, Inc is engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. The firm foods are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.

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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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