Proficio Capital Partners LLC Invests $2.11 Million in Freshpet, Inc. (NASDAQ:FRPT)

Proficio Capital Partners LLC acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,219 shares of the company’s stock, valued at approximately $2,106,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FRPT. M&T Bank Corp raised its stake in Freshpet by 3.2% in the 4th quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after acquiring an additional 70 shares during the last quarter. Atria Investments Inc lifted its stake in Freshpet by 4.2% during the 4th quarter. Atria Investments Inc now owns 5,261 shares of the company’s stock valued at $779,000 after acquiring an additional 212 shares during the period. Victory Capital Management Inc. lifted its position in Freshpet by 1.7% during the fourth quarter. Victory Capital Management Inc. now owns 135,629 shares of the company’s stock valued at $20,088,000 after purchasing an additional 2,291 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Freshpet during the 4th quarter valued at about $43,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter.

Freshpet Trading Up 0.7 %

Shares of Freshpet stock opened at $85.70 on Thursday. Freshpet, Inc. has a fifty-two week low of $80.27 and a fifty-two week high of $164.07. 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 firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 91.17 and a beta of 1.58. The stock has a 50 day moving average of $127.16 and a 200 day moving average of $138.23.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. As a group, research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FRPT. Wells Fargo & Company lowered their target price on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Citigroup cut their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Truist Financial reissued a “buy” rating and issued a $140.00 price objective (down from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet presently has a consensus 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.