Freshpet (NASDAQ:FRPT) Sets New 12-Month Low – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT) shares hit a new 52-week low on Wednesday . The stock traded as low as $55.77 and last traded at $58.08, with a volume of 1703795 shares trading hands. The stock had previously closed at $56.29.

Analyst Ratings Changes

Several brokerages recently weighed in on FRPT. Robert W. Baird cut their price objective on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on shares of Freshpet in a research report on Wednesday, August 20th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price objective (down previously from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.29.

Freshpet Stock Performance

The company has a market cap of $2.77 billion, a P/E ratio of 84.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.77. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $67.22 and its 200 day moving average price is $80.09.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. As a group, research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its position in Freshpet by 450.6% during the first quarter. Amalgamated Bank now owns 14,823 shares of the company’s stock worth $1,233,000 after acquiring an additional 12,131 shares during the period. Principal Financial Group Inc. increased its position in Freshpet by 124.0% during the first quarter. Principal Financial Group Inc. now owns 241,196 shares of the company’s stock worth $20,060,000 after acquiring an additional 133,539 shares during the period. Impax Asset Management Group plc increased its position in Freshpet by 40.0% during the first quarter. Impax Asset Management Group plc now owns 70,000 shares of the company’s stock worth $5,822,000 after acquiring an additional 20,000 shares during the period. Ensign Peak Advisors Inc increased its position in Freshpet by 7.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 98,481 shares of the company’s stock worth $14,586,000 after acquiring an additional 6,776 shares during the period. Finally, Deutsche Bank AG increased its position in Freshpet by 31.6% during the first quarter. Deutsche Bank AG now owns 282,840 shares of the company’s stock worth $23,524,000 after acquiring an additional 67,866 shares during the period.

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.