FreshpetFRPT
About: Freshpet produces and sells premium fresh pet food through its company-owned refrigerators placed in grocery, mass and club, pet specialty, and natural stores. The former two store types accounted for 89% of 2023 sales, with grocery stores representing the primary driver of footprint growth. Freshpet primarily targets dogs (92% of sales), with cats and treats comprising the rest of its sales. Geographically, the company's home US market, where all its food is produced, accounts for about 96% of sales, with exports to Canada, the United Kingdom, and other European countries accounting for the remaining balance.
Employees: 1,094
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
200% more first-time investments, than exits
New positions opened: 75 | Existing positions closed: 25
20% more funds holding in top 10
Funds holding in top 10: 10 [Q1] → 12 (+2) [Q2]
16% more funds holding
Funds holding: 319 [Q1] → 369 (+50) [Q2]
10% more capital invested
Capital invested by funds: $6.27B [Q1] → $6.9B (+$624M) [Q2]
3% more repeat investments, than reductions
Existing positions increased: 128 | Existing positions reduced: 124
9% less call options, than puts
Call options by funds: $137M | Put options by funds: $150M
2.11% less ownership
Funds ownership: 112.2% [Q1] → 110.09% (-2.11%) [Q2]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Truist Securities Bill Chappell 58% 1-year accuracy 14 / 24 met price target | 15%upside $160 | Buy Maintained | 16 Oct 2024 |
TD Cowen Robert Moskow 82% 1-year accuracy 14 / 17 met price target | 15%upside $160 | Buy Maintained | 4 Sept 2024 |
Baird Peter Benedict 77% 1-year accuracy 10 / 13 met price target | 13%upside $157 | Outperform Maintained | 3 Sept 2024 |
Benchmark John Lawrence 74% 1-year accuracy 26 / 35 met price target | 8%upside $150 | Buy Reiterated | 7 Aug 2024 |
JP Morgan Ken Goldman 78% 1-year accuracy 7 / 9 met price target | 10%downside $126 | Neutral Maintained | 6 Aug 2024 |
Financial journalist opinion
Based on 5 articles about FRPT published over the past 30 days