Nordea Investment Management AB Invests $648,000 in Freshpet, Inc. $FRPT

Nordea Investment Management AB bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) in the 2nd quarter, Holdings Channel reports. The fund bought 9,454 shares of the company’s stock, valued at approximately $648,000.

Several other hedge funds have also made changes to their positions in FRPT. Vanguard Group Inc. raised its holdings in Freshpet by 12.3% during the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company’s stock worth $434,455,000 after purchasing an additional 571,139 shares in the last quarter. Wellington Management Group LLP raised its holdings in Freshpet by 8.1% during the first quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company’s stock worth $217,590,000 after purchasing an additional 196,882 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in Freshpet by 9.6% during the first quarter. Champlain Investment Partners LLC now owns 1,815,884 shares of the company’s stock worth $151,027,000 after purchasing an additional 158,416 shares in the last quarter. Riverbridge Partners LLC raised its holdings in Freshpet by 23.2% during the second quarter. Riverbridge Partners LLC now owns 1,264,959 shares of the company’s stock worth $85,967,000 after purchasing an additional 238,130 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Freshpet by 3.3% during the first quarter. Raymond James Financial Inc. now owns 760,602 shares of the company’s stock worth $63,259,000 after purchasing an additional 24,131 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FRPT. Benchmark reissued a “buy” rating and set a $95.00 price target (down from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. Zacks Research cut shares of Freshpet from a “strong-buy” rating to a “strong sell” rating in a report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Freshpet in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Truist Financial cut their price target on shares of Freshpet from $80.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.80.

Freshpet Trading Down 5.8%

Shares of Freshpet stock opened at $54.19 on Friday. Freshpet, Inc. has a 12-month low of $46.76 and a 12-month high of $164.07. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.64 billion, a PE ratio of 80.88, a price-to-earnings-growth ratio of 1.29 and a beta of 1.74. The company has a 50-day moving average of $54.19 and a two-hundred day moving average of $67.61.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company had revenue of $264.69 million during the quarter, compared to analysts’ expectations of $269.75 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In related news, Director Jacki Sue Kelley bought 814 shares of the stock in a transaction on Tuesday, September 9th. The shares were purchased at an average price of $56.50 per share, for a total transaction of $45,991.00. Following the acquisition, the director owned 11,907 shares in the company, valued at $672,745.50. This represents a 7.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter N. George bought 1,000 shares of the stock in a transaction on Monday, September 8th. The shares were bought at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the acquisition, the director owned 46,527 shares in the company, valued at $2,445,924.39. The trade was a 2.20% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 6,008 shares of company stock worth $332,305. 4.43% of the stock is owned by insiders.

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.