Freshpet (NASDAQ:FRPT) Given New $110.00 Price Target at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its target price dropped by Wells Fargo & Company from $142.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 30.04% from the stock’s current price.

A number of other equities analysts have also recently issued reports on FRPT. Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. 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. Piper Sandler reduced their target price on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, March 25th. Stifel Nicolaus dropped their price target on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.53.

Freshpet Price Performance

NASDAQ FRPT traded up $0.12 during trading on Wednesday, hitting $84.59. 101,951 shares of the company’s stock were exchanged, compared to its average volume of 757,578. The stock’s 50 day moving average price is $115.25 and its two-hundred day moving average price is $134.96. Freshpet has a fifty-two week low of $80.27 and a fifty-two week high of $164.07. 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 company has a market cap of $4.12 billion, a PE ratio of 89.94 and a beta of 1.80.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $262.71 million during 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%. Research analysts expect that Freshpet will post 1.55 EPS for the current year.

Hedge Funds Weigh In On Freshpet

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Freshpet in the fourth quarter valued at $75,253,000. Allspring Global Investments Holdings LLC raised its position in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares in the last quarter. Point72 Asset Management L.P. grew its position in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after acquiring an additional 186,889 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock valued at $23,045,000 after buying an additional 113,200 shares during the last quarter. Finally, WCM Investment Management LLC increased its position 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 during the period.

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.