Wells Fargo & Company Cuts Freshpet (NASDAQ:FRPT) Price Target to $110.00

Freshpet (NASDAQ:FRPT) had its target price cut by Wells Fargo & Company from $142.00 to $110.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

FRPT has been the topic of a number of other reports. Stifel Nicolaus lowered their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Citigroup dropped their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced 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. Truist Financial dropped their price objective on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and reduced their target price for the stock from $155.00 to $150.00 in a report on Monday, February 24th. One investment 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. Based on data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.53.

Freshpet Price Performance

NASDAQ:FRPT opened at $79.49 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The company has a 50-day moving average of $110.68 and a 200-day moving average of $133.82. Freshpet has a 52 week low of $77.15 and a 52 week high of $164.07. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 84.56 and a beta of 1.80.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. As a group, equities research analysts anticipate that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Freshpet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock valued at $689,090,000 after purchasing an additional 46,844 shares during the last quarter. WCM Investment Management LLC lifted its holdings in 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 buying an additional 110,478 shares during the period. Geode Capital Management LLC boosted its stake in Freshpet by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock valued at $127,446,000 after acquiring an additional 9,081 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Freshpet by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company’s stock worth $120,065,000 after acquiring an additional 39,129 shares during the period. Finally, Norges Bank bought a new stake in shares of Freshpet during the 4th quarter valued at $75,253,000.

Freshpet Company 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.