Wellington Management Group LLP Has $358.33 Million Position in Freshpet, Inc. (NASDAQ:FRPT)

Wellington Management Group LLP cut its position in Freshpet, Inc. (NASDAQ:FRPT) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,419,323 shares of the company’s stock after selling 108,163 shares during the quarter. Wellington Management Group LLP owned 4.97% of Freshpet worth $358,326,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after buying an additional 151 shares during the last quarter. Jones Financial Companies Lllp increased its position in Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 123 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Freshpet during the third quarter valued at $32,000. R Squared Ltd acquired a new position in shares of Freshpet during the fourth quarter worth $39,000. Finally, IFP Advisors Inc bought a new stake in shares of Freshpet in the fourth quarter worth $43,000.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $84.47 on Wednesday. Freshpet, Inc. has a twelve month low of $80.27 and a twelve month high of $164.07. The stock’s 50 day moving average is $115.25 and its 200-day moving average is $134.96. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 89.86 and a beta of 1.58.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on FRPT. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and cut their target price for the stock from $155.00 to $150.00 in a report on Monday, February 24th. Truist Financial cut their price objective on Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday. Oppenheimer downgraded shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average target price of $148.67.

Freshpet Profile

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.