Ensign Peak Advisors Inc Increases Stake in Freshpet, Inc. (NASDAQ:FRPT)

Ensign Peak Advisors Inc grew its position in Freshpet, Inc. (NASDAQ:FRPT – Get Rating) by 50.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,604 shares of the company’s stock after purchasing an additional 5,265 shares during the period. Ensign Peak Advisors Inc’s holdings in Freshpet were worth $781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new stake in shares of Freshpet in the third quarter valued at $28,000. Parkside Financial Bank & Trust raised its stake in shares of Freshpet by 873.8% in the first quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock valued at $84,000 after acquiring an additional 734 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Freshpet by 206.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,905 shares of the company’s stock valued at $95,000 after acquiring an additional 1,284 shares during the period. Amundi raised its stake in shares of Freshpet by 65.1% in the second quarter. Amundi now owns 2,571 shares of the company’s stock valued at $118,000 after acquiring an additional 1,014 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Freshpet in the first quarter valued at $143,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Freshpet in a research note on Tuesday, February 28th. Piper Sandler raised their price target on shares of Freshpet from $69.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 7th. Truist Financial raised their price target on shares of Freshpet from $40.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, February 28th. Stephens raised their price target on shares of Freshpet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. Finally, Robert W. Baird raised their price target on shares of Freshpet from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Freshpet Price Performance

Shares of Freshpet stock opened at $55.24 on Tuesday. Freshpet, Inc. has a 1 year low of $36.02 and a 1 year high of $118.77. The firm’s 50-day moving average is $61.60 and its two-hundred day moving average is $57.19. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -42.49 and a beta of 1.00.

Freshpet (NASDAQ:FRPT – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Freshpet had a negative net margin of 9.99% and a negative return on equity of 6.26%. The business had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $151.34 million. During the same period last year, the business earned ($0.21) EPS. The company’s revenue was up 43.1% compared to the same quarter last year. On average, equities analysts expect that Freshpet, Inc. will post -0.52 earnings per share for the current year.

Freshpet Profile

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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.