Picton Mahoney Asset Management Trims Position in Freshpet, Inc. (NASDAQ:FRPT)

Picton Mahoney Asset Management lessened its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 47,713 shares of the company’s stock after selling 502 shares during the quarter. Picton Mahoney Asset Management’s holdings in Freshpet were worth $7,068,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FRPT. Atria Investments Inc raised its holdings in shares of Freshpet by 5.5% during the 3rd quarter. Atria Investments Inc now owns 5,049 shares of the company’s stock worth $691,000 after acquiring an additional 265 shares during the period. Versor Investments LP purchased a new stake in Freshpet in the 3rd quarter valued at about $300,000. KBC Group NV raised its holdings in Freshpet by 0.8% in the 3rd quarter. KBC Group NV now owns 24,869 shares of the company’s stock valued at $3,401,000 after buying an additional 186 shares during the period. Natixis Advisors LLC purchased a new stake in Freshpet in the 3rd quarter valued at about $1,433,000. Finally, GLOBALT Investments LLC GA raised its holdings in Freshpet by 3.2% in the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock valued at $490,000 after buying an additional 111 shares during the period.

Freshpet Stock Performance

Shares of Freshpet stock opened at $87.84 on Friday. Freshpet, Inc. has a one year low of $80.27 and a one year high of $164.07. The company has a market cap of $4.28 billion, a PE ratio of 93.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The business has a 50-day simple moving average of $130.72 and a 200-day simple moving average of $139.26.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $275.46 million. On average, equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Truist Financial reiterated a “buy” rating and set a $140.00 price target (down from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus target price of $151.67.

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.