Neuberger Berman Group LLC Sells 39,165 Shares of Freshpet, Inc. $FRPT

Neuberger Berman Group LLC cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 21.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,121 shares of the company’s stock after selling 39,165 shares during the quarter. Neuberger Berman Group LLC’s holdings in Freshpet were worth $7,943,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Cresset Asset Management LLC lifted its stake in shares of Freshpet by 64.7% in the 3rd quarter. Cresset Asset Management LLC now owns 10,371 shares of the company’s stock valued at $572,000 after purchasing an additional 4,075 shares during the last quarter. Deepwater Asset Management LLC raised its holdings in Freshpet by 14.3% during the third quarter. Deepwater Asset Management LLC now owns 190,301 shares of the company’s stock valued at $10,487,000 after buying an additional 23,768 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Freshpet in the third quarter worth about $221,000. Segall Bryant & Hamill LLC boosted its stake in shares of Freshpet by 2.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 77,097 shares of the company’s stock worth $4,249,000 after acquiring an additional 1,913 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Freshpet by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 288,162 shares of the company’s stock valued at $15,881,000 after acquiring an additional 3,225 shares during the last quarter.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $82.64 on Friday. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.53 and a beta of 1.66. The business has a 50 day moving average price of $70.28 and a 200 day moving average price of $60.93. 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, Inc. has a twelve month low of $46.76 and a twelve month high of $97.00.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Freshpet from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. TD Cowen set a $60.00 price target on Freshpet in a report on Tuesday, February 24th. Piper Sandler boosted their price objective on shares of Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Bank of America boosted their price objective on shares of Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Freshpet presently has an average rating of “Hold” and an average price target of $76.47.

About Freshpet

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.