Wellington Management Group LLP Has $291.50 Million Stake in Freshpet, Inc. (NASDAQ:FRPT)

Wellington Management Group LLP reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,359,855 shares of the company’s stock after selling 216,159 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Freshpet worth $291,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FRPT. Johnson Financial Group Inc. bought a new stake in shares of Freshpet in the 4th quarter worth about $29,000. Quarry LP acquired a new position in Freshpet in the fourth quarter valued at about $40,000. Washington Trust Advisors Inc. grew its stake in Freshpet by 617.3% during the fourth quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock worth $50,000 after buying an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Freshpet by 96.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,750 shares of the company’s stock worth $153,000 after buying an additional 860 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new position in shares of Freshpet in the third quarter valued at approximately $206,000.

Freshpet Stock Performance

Shares of Freshpet stock opened at $129.70 on Tuesday. The firm has a fifty day moving average of $119.63 and a two-hundred day moving average of $102.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 720.60 and a beta of 1.33. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $132.84.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. The business had revenue of $223.85 million during the quarter, compared to the consensus estimate of $216.43 million. As a group, equities research analysts predict that Freshpet, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on FRPT. Stifel Nicolaus increased their price target on Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and raised their target price for the company from $120.00 to $135.00 in a research note on Monday, March 11th. Piper Sandler upped their price target on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. TD Cowen raised their price objective on shares of Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird boosted their target price on shares of Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 6,548 shares of Freshpet stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.15, for a total transaction of $786,742.20. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $10,337,585.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 13,560 shares of company stock valued at $1,701,580 in the last ninety days. 3.60% of the stock is owned by insiders.

About Freshpet

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.