Congress Wealth Management LLC DE Sells 314 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Congress Wealth Management LLC DE trimmed its stake in Freshpet, Inc. (NASDAQ:FRPT) by 11.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,463 shares of the company’s stock after selling 314 shares during the period. Congress Wealth Management LLC DE’s holdings in Freshpet were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after purchasing an additional 253,679 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Freshpet by 391.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after buying an additional 186,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after buying an additional 154,909 shares during the period. WCM Investment Management LLC raised its holdings in shares of Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after acquiring an additional 110,478 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Freshpet by 46.1% in the fourth quarter. Sei Investments Co. now owns 314,705 shares of the company’s stock worth $46,610,000 after acquiring an additional 99,241 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FRPT shares. Citigroup cut their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and dropped their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. Piper Sandler reduced their price target on Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. Finally, Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.67.

Freshpet Trading Down 2.6 %

NASDAQ FRPT opened at $84.39 on Friday. Freshpet, Inc. has a 12-month low of $80.27 and a 12-month high of $164.07. The company has a fifty day simple moving average of $118.17 and a two-hundred day simple moving average of $135.77. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.11 billion, a P/E ratio of 89.78 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. On average, analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

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.