Fisher Asset Management LLC Raises Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Fisher Asset Management LLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 20.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,912 shares of the company’s stock after acquiring an additional 30,549 shares during the period. Fisher Asset Management LLC owned about 0.36% of Freshpet worth $26,202,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lecap Asset Management Ltd. purchased a new position in shares of Freshpet in the 4th quarter valued at $817,000. Principal Financial Group Inc. raised its stake in shares of Freshpet by 36.4% in the 4th quarter. Principal Financial Group Inc. now owns 107,657 shares of the company’s stock valued at $15,945,000 after acquiring an additional 28,743 shares during the period. Geode Capital Management LLC raised its stake in shares of Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after acquiring an additional 37,287 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of Freshpet in the 3rd quarter valued at $1,465,000. Finally, Geneva Capital Management LLC raised its stake in shares of Freshpet by 166.2% in the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after acquiring an additional 52,584 shares during the period.

Insider Activity

In other news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. The trade was a 3.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company’s stock.

Freshpet Price Performance

Shares of FRPT stock opened at $96.13 on Tuesday. Freshpet, Inc. has a 1-year low of $93.75 and a 1-year high of $164.07. The firm has a fifty day moving average of $141.88 and a two-hundred day moving average of $142.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The firm has a market cap of $4.68 billion, a P/E ratio of 102.27 and a beta of 1.42.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FRPT. Truist Financial reaffirmed a “buy” rating and set a $140.00 price target (down previously from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. Robert W. Baird lifted their price target on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. DA Davidson lifted their price target on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler dropped their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and a consensus price target of $156.47.

Freshpet 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.