Key Points
- Freshpet director Walter George bought 2,000 shares on May 8 at an average price of $54.67, a transaction worth $109,340 that increased his holdings by 4.10%.
- The company recently reported strong quarterly results, posting EPS of $0.64 versus the $0.43 estimate and revenue growth of 8.6% year over year, though revenue was slightly below analyst expectations.
- Wall Street remains mixed but generally positive on Freshpet: the stock has a consensus rating of “Moderate Buy” with an average target price of $74.88, even as several firms recently trimmed their price targets.
Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) Director Walter George bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $54.67 per share, with a total value of $109,340.00. Following the completion of the acquisition, the director owned 50,746 shares of the company's stock, valued at $2,774,283.82. This trade represents a 4.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Freshpet Price Performance
Shares of NASDAQ FRPT opened at $49.64 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 13.27 and a beta of 1.73. The stock's 50-day moving average is $67.29 and its two-hundred day moving average is $64.51. Freshpet, Inc. has a 1-year low of $46.76 and a 1-year high of $89.80.
Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.The business had revenue of $285.23 million during the quarter, compared to analysts' expectations of $285.66 million. During the same quarter last year, the business posted $0.36 EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts forecast that Freshpet, Inc. will post 1.5 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on FRPT shares. Bank of America dropped their price objective on shares of Freshpet from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, April 10th. Benchmark increased their target price on Freshpet from $90.00 to $93.00 and gave the company a "buy" rating in a report on Monday, March 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Freshpet in a research note on Monday, April 20th. Jefferies Financial Group lowered their price objective on Freshpet from $75.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on Freshpet from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Freshpet currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.
Read Our Latest Report on FRPT
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company's stock valued at $5,624,000 after buying an additional 31,334 shares during the last quarter. Jones Financial Companies Lllp raised its position in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after purchasing an additional 1,593 shares during the last quarter. United Services Automobile Association acquired a new stake in Freshpet during the 1st quarter worth $247,000. EverSource Wealth Advisors LLC grew its position in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock worth $34,000 after purchasing an additional 472 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in Freshpet by 140.3% during the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company's stock worth $428,000 after purchasing an additional 3,676 shares during the last quarter.
Freshpet Company Profile
(
Get Free Report)
Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.
Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.
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