Gabelli Funds LLC Trims Holdings in Freshpet, Inc. (NASDAQ:FRPT)

by · The Markets Daily

Gabelli Funds LLC lowered its stake in Freshpet, Inc. (NASDAQ:FRPT – Free Report) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,150 shares of the company’s stock after selling 150 shares during the quarter. Gabelli Funds LLC’s holdings in Freshpet were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Freshpet during the 4th quarter worth approximately $75,253,000. Allspring Global Investments Holdings LLC boosted its stake in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after buying an additional 253,679 shares during the period. Renaissance Technologies LLC grew its position in Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock worth $23,045,000 after buying an additional 113,200 shares in the last quarter. WCM Investment Management LLC increased its stake in Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after acquiring an additional 110,478 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Freshpet by 143.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company’s stock valued at $25,669,000 after acquiring an additional 102,232 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Benchmark decreased their price objective on shares of Freshpet from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of Freshpet from $102.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Piper Sandler cut their target price on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. Stifel Nicolaus cut their price objective on Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Truist Financial dropped their target price on Freshpet from $140.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.80.

Get Our Latest Research Report on Freshpet

Freshpet Trading Up 1.2 %

FRPT opened at $77.57 on Monday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 82.52 and a beta of 1.80. Freshpet, Inc. has a one year low of $72.90 and a one year high of $164.07. The business has a 50 day simple moving average of $93.09 and a two-hundred day simple moving average of $128.78. 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 (NASDAQ:FRPT – Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Freshpet Company 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.

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