Pier Capital LLC Has $5.69 Million Holdings in Freshpet, Inc. $FRPT

Pier Capital LLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 56.6% during the 3rd quarter, Holdings Channel reports. The firm owned 103,309 shares of the company’s stock after purchasing an additional 37,344 shares during the period. Pier Capital LLC’s holdings in Freshpet were worth $5,693,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after buying an additional 197 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 472 shares during the period. State of Wyoming bought a new position in Freshpet in the second quarter valued at approximately $34,000. Ossiam boosted its stake in Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after acquiring an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Freshpet by 258.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock worth $37,000 after acquiring an additional 391 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Monday, December 15th. Bank of America upped their price objective on Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, December 19th. DA Davidson set a $98.00 target price on Freshpet in a research note on Wednesday, February 25th. Finally, TD Cowen set a $60.00 target price on Freshpet in a report on Tuesday, February 24th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.47.

Freshpet Trading Down 2.9%

Shares of NASDAQ FRPT opened at $78.04 on Friday. The company’s fifty day moving average is $71.84 and its 200-day moving average is $61.47. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 2.46 and a beta of 1.66. Freshpet, Inc. has a twelve month low of $46.76 and a twelve month high of $91.25. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Freshpet Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.