Fisher Asset Management LLC Has $18.75 Million Stake in Freshpet, Inc. (NASDAQ:FRPT)

Fisher Asset Management LLC boosted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,155 shares of the company’s stock after acquiring an additional 4,385 shares during the quarter. Fisher Asset Management LLC owned 0.45% of Freshpet worth $18,754,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JANA Partners Management LP acquired a new stake in shares of Freshpet during the 3rd quarter worth about $214,405,000. Norges Bank acquired a new stake in shares of Freshpet during the 4th quarter worth about $40,327,000. Jennison Associates LLC increased its position in shares of Freshpet by 36.6% during the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after purchasing an additional 245,403 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Freshpet by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after purchasing an additional 234,836 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Freshpet by 3,434.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after purchasing an additional 219,913 shares in the last quarter.

Freshpet Stock Up 1.2 %

Freshpet stock opened at $131.21 on Wednesday. The company’s 50 day simple moving average is $119.93 and its 200 day simple moving average is $103.27. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $132.84. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 728.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FRPT. Redburn Atlantic upgraded shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Freshpet to a “sell” rating in a research report on Saturday, May 4th. Truist Financial upgraded shares of Freshpet from a “hold” rating to a “buy” rating and raised their price objective for the company from $120.00 to $135.00 in a research report on Monday, March 11th. Robert W. Baird raised their price objective on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Freshpet in a research report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price objective for the company. One equities 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. According to MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus price target of $127.75.

Insider Buying and Selling

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 have sold 13,560 shares of company stock valued at $1,701,580 in the last 90 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.