Riverbridge Partners LLC cut its holdings in shares of Freshpet Inc (NASDAQ:FRPT) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 651,267 shares of the company’s stock after selling 14,686 shares during the period. Riverbridge Partners LLC owned about 1.81% of Freshpet worth $32,414,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FRPT. FMR LLC lifted its stake in Freshpet by 749.2% during the first quarter. FMR LLC now owns 2,538,489 shares of the company’s stock worth $107,353,000 after purchasing an additional 2,239,553 shares during the last quarter. Invesco Ltd. lifted its stake in Freshpet by 254.8% during the second quarter. Invesco Ltd. now owns 887,629 shares of the company’s stock worth $40,396,000 after purchasing an additional 637,442 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Freshpet during the second quarter worth $26,907,000. Carillon Tower Advisers Inc. acquired a new position in shares of Freshpet during the second quarter worth $24,958,000. Finally, Champlain Investment Partners LLC acquired a new position in shares of Freshpet during the first quarter worth $21,016,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.
Several brokerages have recently issued reports on FRPT. JPMorgan Chase & Co. began coverage on shares of Freshpet in a report on Tuesday, July 30th. They set a “neutral” rating and a $46.00 price target for the company. SunTrust Banks lowered their price target on shares of Freshpet to $45.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. They noted that the move was a valuation call. DA Davidson began coverage on shares of Freshpet in a report on Wednesday, June 19th. They set a “buy” rating and a $60.00 price target for the company. ValuEngine downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, BidaskClub downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.71.
Shares of NASDAQ:FRPT opened at $46.86 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -312.40 and a beta of 1.07. Freshpet Inc has a 52-week low of $28.44 and a 52-week high of $52.42. The company has a fifty day moving average of $48.74 and a 200-day moving average of $45.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.00 and a current ratio of 1.51.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.08). The company had revenue of $60.10 million during the quarter, compared to analyst estimates of $59.59 million. Freshpet had a negative net margin of 3.42% and a negative return on equity of 6.23%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. On average, equities analysts forecast that Freshpet Inc will post 0.05 EPS for the current fiscal year.
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. 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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