Jennison Associates LLC Grows Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Jennison Associates LLC raised its position in Freshpet, Inc. (NASDAQ:FRPT) by 36.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 915,827 shares of the company’s stock after buying an additional 245,403 shares during the period. Jennison Associates LLC’s holdings in Freshpet were worth $79,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in Freshpet by 0.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,662 shares of the company’s stock worth $2,218,000 after purchasing an additional 279 shares in the last quarter. Amalgamated Bank increased its position in Freshpet by 4.6% during the 3rd quarter. Amalgamated Bank now owns 7,678 shares of the company’s stock worth $506,000 after purchasing an additional 335 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in Freshpet during the 3rd quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Freshpet by 4.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,428 shares of the company’s stock worth $905,000 after purchasing an additional 442 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Freshpet by 3.8% during the 4th quarter. Arizona State Retirement System now owns 12,806 shares of the company’s stock worth $1,111,000 after purchasing an additional 474 shares in the last quarter.

Freshpet Stock Up 0.1 %

FRPT stock opened at $104.75 on Tuesday. Freshpet, Inc. has a twelve month low of $54.60 and a twelve month high of $117.76. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.06 billion, a P/E ratio of -147.54 and a beta of 1.23. The firm has a 50 day simple moving average of $106.78 and a 200-day simple moving average of $86.03.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business had revenue of $215.40 million during the quarter, compared to the consensus estimate of $204.93 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities research analysts predict that Freshpet, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FRPT has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Freshpet in a research report on Thursday, February 1st. They set a “neutral” rating and a $94.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Piper Sandler increased their price objective on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Oppenheimer increased their price objective on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and increased their price objective for the company from $120.00 to $135.00 in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Insider Buying and Selling

In related news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,709,007.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,709,007.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The disclosure for this sale can be found here. Insiders have sold 15,762 shares of company stock worth $1,737,280 over the last ninety days. 3.60% of the stock is owned by insiders.

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.