Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,872 shares of the company’s stock after selling 23,625 shares during the period. Freshpet makes up about 1.6% of Granite Investment Partners LLC’s investment portfolio, making the stock its 8th biggest position. Granite Investment Partners LLC’s holdings in Freshpet were worth $36,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 151 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Freshpet in the third quarter valued at about $32,000. Jones Financial Companies Lllp boosted its holdings in Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after buying an additional 123 shares during the last quarter. R Squared Ltd acquired a new position in shares of Freshpet during the 4th quarter worth about $39,000. Finally, IFP Advisors Inc bought a new stake in shares of Freshpet in the 4th quarter valued at about $43,000.

Freshpet Stock Performance

Shares of FRPT stock opened at $80.19 on Friday. The firm has a market cap of $3.91 billion, a PE ratio of 85.31 and a beta of 1.80. Freshpet, Inc. has a 12 month low of $72.90 and a 12 month high of $164.07. The company’s fifty day simple moving average is $99.37 and its 200-day simple moving average is $130.82. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Equities research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

FRPT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Freshpet from $102.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and reduced their price target for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Wells Fargo & Company dropped their price objective on Freshpet from $142.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Truist Financial decreased their target price on Freshpet from $140.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.47.

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.