Merit Financial Group LLC acquired a new position in Freshpet, Inc. (NASDAQ:FRPT – Free Report) in the first quarter, HoldingsChannel.com reports. The firm acquired 3,062 shares of the company’s stock, valued at approximately $255,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Freshpet by 131.0% in the 1st quarter. Rhumbline Advisers now owns 106,438 shares of the company’s stock worth $8,852,000 after purchasing an additional 60,352 shares during the period. GAMMA Investing LLC grew its position in shares of Freshpet by 5,415.7% during the 1st quarter. GAMMA Investing LLC now owns 31,605 shares of the company’s stock valued at $2,629,000 after acquiring an additional 31,032 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Freshpet by 21.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company’s stock valued at $1,049,000 after acquiring an additional 1,272 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Freshpet in the 4th quarter worth $14,678,000. Finally, Forum Financial Management LP bought a new position in Freshpet in the 4th quarter worth $215,000.
Freshpet Stock Performance
Freshpet stock opened at $77.80 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a 1-year low of $71.19 and a 1-year high of $164.07. The firm has a market capitalization of $3.79 billion, a P/E ratio of 82.77 and a beta of 1.86. The company’s 50-day moving average is $79.40 and its 200 day moving average is $111.54.
Freshpet (NASDAQ:FRPT – Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $263.25 million during the quarter, compared to analysts’ expectations of $265.57 million. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on FRPT. Benchmark dropped their target price on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus started coverage on shares of Freshpet in a research note on Thursday. They issued a “buy” rating and a $90.00 price target on the stock. TD Cowen cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $96.00 price target on the stock. in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and decreased their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.07.
Read Our Latest Research Report on Freshpet
Freshpet Profile
(Free Report)
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.
See Also
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