Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Cynosure Group LLC

Cynosure Group LLC cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 20.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,048 shares of the company’s stock after selling 533 shares during the quarter. Cynosure Group LLC’s holdings in Freshpet were worth $303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FRPT. Vanguard Group Inc. increased its holdings in Freshpet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock worth $689,090,000 after acquiring an additional 46,844 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after purchasing an additional 110,478 shares during the period. Geode Capital Management LLC increased its stake in shares of Freshpet by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock worth $127,446,000 after purchasing an additional 9,081 shares in the last quarter. Norges Bank acquired a new position in shares of Freshpet during the 4th quarter worth about $75,253,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after buying an additional 253,679 shares in the last quarter.

Freshpet Stock Up 1.5 %

FRPT stock opened at $85.73 on Thursday. Freshpet, Inc. has a one year low of $80.27 and a one year high of $164.07. The firm has a market cap of $4.18 billion, a PE ratio of 91.20 and a beta of 1.80. The firm’s 50 day moving average price is $113.80 and its 200-day moving average price is $134.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The company had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. On average, equities research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their price objective on Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Stifel Nicolaus decreased their price objective on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Truist Financial reduced their target price on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company lowered their price target on shares of Freshpet from $142.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.53.

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.