Geneva Capital Management LLC Decreases Stake in Freshpet, Inc. (NASDAQ:FRPT)

Geneva Capital Management LLC reduced its stake in Freshpet, Inc. (NASDAQ:FRPT) by 11.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,899 shares of the company’s stock after selling 9,322 shares during the quarter. Geneva Capital Management LLC’s holdings in Freshpet were worth $11,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management LLC raised its position in shares of Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after purchasing an additional 110,478 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Freshpet by 54.4% in 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. Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised 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 valued at $36,018,000 after purchasing an additional 43,595 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on FRPT. Piper Sandler decreased their price objective on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Oppenheimer reduced their price target on shares of Freshpet from $180.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Citigroup reduced their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus reduced their price target on shares of Freshpet from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.47.

Freshpet Price Performance

Freshpet stock opened at $96.06 on Thursday. The company’s fifty day moving average price is $139.92 and its 200 day moving average price is $141.80. Freshpet, Inc. has a 1 year low of $93.53 and a 1 year high of $164.07. The stock has a market capitalization of $4.68 billion, a P/E ratio of 102.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. As a group, equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet Company Profile

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.