Marshall Wace North America L.P. lessened its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 75.0% in the second quarter, HoldingsChannel.com reports. The firm owned 2,376 shares of the company’s stock after selling 7,139 shares during the period. Marshall Wace North America L.P.’s holdings in Freshpet were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Freshpet by 122.4% in the second quarter. Parallel Advisors LLC now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 93 shares during the period. Corbenic Partners LLC boosted its holdings in Freshpet by 48.3% in the second quarter. Corbenic Partners LLC now owns 215 shares of the company’s stock worth $35,000 after purchasing an additional 70 shares during the period. Canada Pension Plan Investment Board acquired a new position in Freshpet in the second quarter worth $61,000. Dark Forest Capital Management LP acquired a new position in Freshpet in the second quarter worth $126,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of Freshpet during the second quarter valued at $2,333,000. 93.13% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on FRPT shares. Credit Suisse Group reduced their price target on shares of Freshpet from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, August 3rd. Truist raised shares of Freshpet from a “hold” rating to a “buy” rating and boosted their price target for the company from $150.00 to $175.00 in a report on Wednesday, October 13th. Robert W. Baird reduced their price target on shares of Freshpet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Tuesday, November 9th. Truist Securities raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a report on Wednesday, October 13th. Finally, Cowen started coverage on shares of Freshpet in a report on Friday, September 10th. They set an “outperform” rating and a $229.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has an average rating of “Buy” and an average price target of $178.23.
Shares of Freshpet stock opened at $109.13 on Thursday. The company’s 50-day moving average price is $141.28 and its two-hundred day moving average price is $149.12. Freshpet, Inc. has a 52 week low of $105.12 and a 52 week high of $186.98. The stock has a market cap of $4.74 billion, a PE ratio of -194.87 and a beta of 0.62.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.12). Freshpet had a negative return on equity of 3.71% and a negative net margin of 6.02%. The business had revenue of $107.59 million during the quarter, compared to the consensus estimate of $114.31 million. During the same quarter last year, the firm posted $0.09 earnings per share. Freshpet’s revenue was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that Freshpet, Inc. will post -0.4 EPS for the current fiscal year.
Freshpet, Inc engages in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are sold throughout the United States and in Canada under the Freshpet Select, Vital and Nature’s Fresh brands. Its products include deli fresh grain free chicken recipe for dogs; dog joy turkey and apple bites treats for dogs; nature’s fresh grain free chicken recipe for cats; and vital grain free chicken and ocean whitefish recipe for cats.
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