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    FRPT   US3580391056

FRESHPET, INC.

(FRPT)
  Report
Delayed Nasdaq  -  04:00 2022-09-23 pm EDT
45.37 USD   -0.22%
09/23MARKETSCREENER'S WORLD PRESS REVIEW : September 23, 2022
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09/23Jana Partners Acquires 10% Stake in Freshpet
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09/22NEWS HIGHLIGHTS : Top Company News of the Day
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Activist investor Jana Partners discloses nearly 10% stake in Freshpet

09/22/2022 | 03:58pm EDT

Sept 22 (Reuters) - Jana Partners on Thursday disclosed a 9.6% stake in Freshpet Inc and said it could push the pet food maker to evaluate a sale of its business, indicating another round of corporate activism in the retail industry by the hedge fund.

The New York-based investor said in a regulatory filing that Freshpet's shares, down nearly 60% so far this year, are undervalued.

Jana Partners has a history of pushing for change in the food and beverage industry. It had previously urged for changes at Whole Foods that was later sold to Amazon, and at Pinnacle Foods, which Conagra Brands acquired in a nearly $11 billion deal in 2018.

Jana Partners has also been pushing for changes at packaged food maker TreeHouse Foods Inc since last year. In April, TreeHouse said it had appointed Scott Ostfeld, a partner at Jana, to its board as part of an agreement with the New York-based company.

Freshpet has not yet spoken to Jana, but will "look forward to hearing their perspectives", the company said in an emailed statement.

In its second quarter, Secaucus, New Jersey-based Freshpet reported a 34% jump in revenue to $146 million. But higher expenses due to inflationary pressures and supply chain snags led to a bigger loss in the quarter.

The news of Jana's stake was first reported by the Wall Street Journal. (Reporting by Niket Nishant and Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli and Maju Samuel)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -3.01% 113.78 Delayed Quote.-29.64%
CONAGRA BRANDS, INC. -1.18% 34.35 Delayed Quote.0.59%
FRESHPET, INC. -0.22% 45.37 Delayed Quote.-52.38%
TREEHOUSE FOODS, INC. -1.75% 43.34 Delayed Quote.8.83%
All news about FRESHPET, INC.
09/23MARKETSCREENER'S WORLD PRESS REVIEW : September 23, 2022
MS
09/23Jana Partners Acquires 10% Stake in Freshpet
CI
09/22NEWS HIGHLIGHTS : Top Company News of the Day
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09/22JANA Partners Engages in Discussions with Freshpet
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09/22JANA Partners Plans to Push Freshpet to Explore Sale
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09/22Activist Jana Reportedly Plans to Push Freshpet to Explore Sale
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09/22Activist investor Jana Partners discloses nearly 10% stake in Freshpet
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09/22Jana Partners builds 10% stake in pet food maker Freshpet - WSJ
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Analyst Recommendations on FRESHPET, INC.
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Financials (USD)
Sales 2022 580 M - -
Net income 2022 -30,8 M - -
Net cash 2022 57,1 M - -
P/E ratio 2022 -59,7x
Yield 2022 -
Capitalization 2 170 M 2 170 M -
EV / Sales 2022 3,64x
EV / Sales 2023 3,06x
Nbr of Employees 789
Free-Float 97,0%
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Technical analysis trends FRESHPET, INC.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 45,37 $
Average target price 65,75 $
Spread / Average Target 44,9%
EPS Revisions
Managers and Directors
William B. Cyr Chief Executive Officer & Director
Scott Morris Chief Marketing Officer
Richard A. Kassar Vice Chairman & Chief Financial Officer
Charles A. Norris Chairman
Gerardo Perez-Camargo Head-Research & Development
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