Neuberger Berman Group LLC Buys New Position in Freshpet, Inc. $FRPT

by · The Markets Daily

Neuberger Berman Group LLC purchased a new stake in Freshpet, Inc. (NASDAQ:FRPT – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 183,286 shares of the company’s stock, valued at approximately $12,456,000. Neuberger Berman Group LLC owned about 0.38% of Freshpet as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Freshpet by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company’s stock valued at $434,455,000 after purchasing an additional 571,139 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Freshpet by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 468,870 shares of the company’s stock valued at $38,996,000 after purchasing an additional 28,563 shares in the last quarter. Nuveen LLC purchased a new position in shares of Freshpet in the first quarter worth $15,073,000. Russell Investments Group Ltd. raised its holdings in shares of Freshpet by 45.7% in the first quarter. Russell Investments Group Ltd. now owns 56,354 shares of the company’s stock worth $4,687,000 after buying an additional 17,687 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Freshpet during the first quarter worth $660,000.

Freshpet Stock Up 0.8%

Shares of FRPT opened at $63.42 on Friday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 0.85 and a beta of 1.72. Freshpet, Inc. has a 52 week low of $46.76 and a 52 week high of $164.07. The stock’s 50-day moving average price is $55.28 and its 200-day moving average price is $61.72. The company has a quick ratio of 4.61, a current ratio of 5.52 and a debt-to-equity ratio of 0.36.

Freshpet (NASDAQ:FRPT – Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $1.43. The company had revenue of $288.85 million during the quarter, compared to the consensus estimate of $283.73 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.Freshpet’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, sell-side analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Insider Transactions at Freshpet

In related news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the sale, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. This trade represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FRPT shares. Robert W. Baird cut their target price on Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Zacks Research raised Freshpet from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Jefferies Financial Group restated a “hold” rating and issued a $56.00 price objective on shares of Freshpet in a research note on Tuesday, November 4th. Bank of America reiterated a “neutral” rating and issued a $60.00 target price (down previously from $81.00) on shares of Freshpet in a research report on Wednesday, October 8th. Finally, UBS Group set a $48.00 price target on shares of Freshpet and gave the stock a “sell” rating in a research report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.43.

Read Our Latest Stock Analysis on FRPT

About Freshpet

(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.

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