Jennison Associates LLC trimmed its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,150,941 shares of the company's stock after selling 35,236 shares during the quarter. Jennison Associates LLC owned 2.37% of Freshpet worth $157,414,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in FRPT. WCM Investment Management LLC lifted its holdings in Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company's stock valued at $376,187,000 after buying an additional 2,445,199 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Freshpet by 24.4% in the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company's stock valued at $93,327,000 after acquiring an additional 141,615 shares in the last quarter. M&G Plc purchased a new stake in Freshpet in the second quarter worth about $8,892,000. Renaissance Technologies LLC bought a new position in Freshpet during the 2nd quarter worth about $8,902,000. Finally, Price T Rowe Associates Inc. MD increased its position in Freshpet by 199.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company's stock valued at $11,462,000 after purchasing an additional 65,868 shares during the period.
A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Freshpet from $161.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. TD Cowen lifted their price target on Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Freshpet from $126.00 to $154.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. StockNews.com lowered Freshpet from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, DA Davidson increased their price target on shares of Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $157.80.
Check Out Our Latest Stock Analysis on Freshpet
Shares of FRPT stock opened at $156.38 on Wednesday. The company has a market capitalization of $7.59 billion, a P/E ratio of 175.71 and a beta of 1.39. Freshpet, Inc. has a 12-month low of $68.22 and a 12-month high of $159.12. The business's 50 day moving average is $141.68 and its two-hundred day moving average is $132.98. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.
Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to analysts' expectations of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm's revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. Analysts expect that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.
In related news, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares of the company's stock, valued at approximately $12,046,320.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.
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.
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