Picton Mahoney Asset Management Decreases Stake in Freshpet, Inc. (NASDAQ:FRPT)

Picton Mahoney Asset Management cut its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,713 shares of the company’s stock after selling 502 shares during the quarter. Picton Mahoney Asset Management owned 0.10% of Freshpet worth $7,068,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FRPT. Atria Investments Inc raised its position in 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 buying an additional 265 shares during the last quarter. Versor Investments LP purchased a new position in Freshpet during the 3rd quarter worth approximately $300,000. KBC Group NV raised its position in Freshpet by 0.8% during the 3rd quarter. KBC Group NV now owns 24,869 shares of the company’s stock worth $3,401,000 after buying an additional 186 shares during the last quarter. Natixis Advisors LLC purchased a new position in Freshpet during the 3rd quarter worth approximately $1,433,000. Finally, GLOBALT Investments LLC GA increased its holdings in shares of Freshpet by 3.2% during the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock valued at $490,000 after purchasing an additional 111 shares in the last quarter.

Freshpet Trading Up 1.5 %

Shares of FRPT opened at $87.84 on Friday. Freshpet, Inc. has a 52-week low of $80.27 and a 52-week high of $164.07. 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 fifty day moving average is $130.72 and its two-hundred day moving average is $139.26. The stock has a market cap of $4.28 billion, a PE ratio of 93.45 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last announced its 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 net margin of 4.81% and a return on equity of 3.92%. The company had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FRPT has been the subject of several recent research reports. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Truist Financial reaffirmed a “buy” rating and set a $140.00 target price (down from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Citigroup cut their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and an average 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.