Rock Springs Capital Management LP Decreases Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Rock Springs Capital Management LP reduced its position in Freshpet, Inc. (NASDAQ:FRPT) by 26.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,500 shares of the company’s stock after selling 119,000 shares during the period. Freshpet comprises 1.8% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 18th biggest position. Rock Springs Capital Management LP’s holdings in Freshpet were worth $48,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Freshpet in the fourth quarter valued at approximately $75,253,000. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 253,679 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Freshpet by 267.0% during the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock valued at $23,045,000 after buying an additional 113,200 shares during the last quarter. WCM Investment Management LLC increased its position in Freshpet by 4.0% during the fourth 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 in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company’s stock worth $25,669,000 after acquiring an additional 102,232 shares during the last quarter.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $77.57 on Monday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $93.09 and its two-hundred day moving average price is $128.78. Freshpet, Inc. has a 52-week low of $72.90 and a 52-week high of $164.07. The stock has a market capitalization of $3.78 billion, a P/E ratio of 82.52 and a beta of 1.80.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FRPT shares. Truist Financial reduced their price objective on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Robert W. Baird set a $125.00 target price on Freshpet in a report on Wednesday. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Stifel Nicolaus lowered their price objective on shares of Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Benchmark lowered their target price on Freshpet from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus price target of $140.80.

Freshpet 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.