Envestnet Portfolio Solutions Inc. Grows Position in Freshpet, Inc. (NASDAQ:FRPT)

Envestnet Portfolio Solutions Inc. increased its position in Freshpet, Inc. (NASDAQ:FRPT) by 331.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,042 shares of the company’s stock after purchasing an additional 6,179 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Freshpet were worth $1,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FRPT. Allspring Global Investments Holdings LLC increased its position in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after acquiring an additional 253,679 shares during the period. Point72 Asset Management L.P. increased its holdings in Freshpet by 391.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after purchasing an additional 186,889 shares during the period. Charles Schwab Investment Management Inc. raised its position in Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after purchasing an additional 154,909 shares during the last quarter. WCM Investment Management LLC lifted its holdings 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 buying an additional 110,478 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of Freshpet by 21.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 243,187 shares of the company’s stock worth $36,018,000 after buying an additional 43,595 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on FRPT shares. Piper Sandler dropped their price target on Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Truist Financial reaffirmed a “buy” rating and set a $140.00 target price (down previously from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. Citigroup decreased their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and an average price target of $151.67.

Freshpet Trading Up 0.3 %

NASDAQ FRPT opened at $86.64 on Friday. Freshpet, Inc. has a 12 month low of $80.27 and a 12 month high of $164.07. The company’s 50-day moving average price is $124.80 and its 200-day moving average price is $137.53. The stock has a market cap of $4.22 billion, a PE ratio of 92.17 and a beta of 1.58. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

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

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.