Jennison Associates LLC Has $35.63 Million Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Jennison Associates LLC decreased its holdings in Freshpet, Inc. (NASDAQ:FRPTGet Rating) by 28.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,018 shares of the company’s stock after selling 148,364 shares during the quarter. Jennison Associates LLC’s holdings in Freshpet were worth $35,633,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FRPT. Allspring Global Investments Holdings LLC bought a new stake in shares of Freshpet in the fourth quarter worth $20,583,000. Point72 Asset Management L.P. bought a new stake in shares of Freshpet in the third quarter worth $25,848,000. Millennium Management LLC grew its stake in shares of Freshpet by 61.0% in the third quarter. Millennium Management LLC now owns 438,304 shares of the company’s stock worth $62,542,000 after purchasing an additional 166,124 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Freshpet by 309.6% in the third quarter. Marshall Wace LLP now owns 210,482 shares of the company’s stock worth $30,033,000 after purchasing an additional 159,099 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Freshpet by 498.2% in the third quarter. Neuberger Berman Group LLC now owns 156,278 shares of the company’s stock worth $22,299,000 after purchasing an additional 130,154 shares during the last quarter. 93.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ FRPT traded down $5.14 during trading on Friday, hitting $93.35. 514,161 shares of the company traded hands, compared to its average volume of 473,068. The business’s fifty day moving average is $101.11 and its 200 day moving average is $106.89. Freshpet, Inc. has a fifty-two week low of $78.81 and a fifty-two week high of $186.98. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -135.29 and a beta of 0.68.

Freshpet (NASDAQ:FRPTGet Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). Freshpet had a negative net margin of 6.98% and a negative return on equity of 4.12%. The company had revenue of $115.90 million for the quarter, compared to analyst estimates of $116.15 million. During the same quarter in the prior year, the company posted ($0.08) EPS. Freshpet’s revenue for the quarter was up 37.2% on a year-over-year basis. Analysts expect that Freshpet, Inc. will post -0.46 EPS for the current fiscal year.

Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Freshpet from a “hold” rating to a “strong sell” rating in a research note on Monday, March 7th. Cowen cut their price target on shares of Freshpet from $229.00 to $182.00 in a research report on Monday, January 10th. Benchmark assumed coverage on shares of Freshpet in a research report on Wednesday. They set a “buy” rating and a $135.00 price target on the stock. Finally, The Goldman Sachs Group raised shares of Freshpet from a “neutral” rating to a “buy” rating and upped their price target for the company from $111.00 to $136.00 in a research report on Tuesday, March 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $143.30.

About Freshpet (Get Rating)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Further Reading

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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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