Key Points
- Freshpet director Craig Steeneck bought 2,000 shares on May 20 for about $95,660, increasing his direct ownership to 37,500 shares.
- The purchase came while Freshpet shares were trading near $51.58, well below the stock’s 52-week high of $86.31 but above its low of $46.45.
- Freshpet recently beat earnings expectations, reporting $0.64 EPS versus the $0.43 estimate, and analysts currently rate the stock a Moderate Buy with an average price target of $74.88.
Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) Director Daryl Brewster acquired 211 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $47.52 per share, with a total value of $10,026.72. Following the completion of the purchase, the director owned 59,545 shares in the company, valued at $2,829,578.40. The trade was a 0.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Freshpet Price Performance
Shares of FRPT opened at $51.58 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of 13.79 and a beta of 1.73. The stock has a fifty day moving average price of $61.18 and a 200 day moving average price of $64.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. Freshpet, Inc. has a 12 month low of $46.45 and a 12 month high of $86.31.
Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.21. The firm had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. On average, research analysts forecast that Freshpet, Inc. will post 1.71 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Benchmark raised their target price on Freshpet from $90.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $63.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Morgan Stanley restated an "overweight" rating and issued a $77.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Piper Sandler raised their target price on Freshpet from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus set a $66.00 target price on Freshpet in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.88.
Check Out Our Latest Report on Freshpet
Hedge Funds Weigh In On Freshpet
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimize Financial Inc boosted its stake in Freshpet by 1.4% during the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company's stock valued at $668,000 after purchasing an additional 156 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Freshpet by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company's stock valued at $680,000 after purchasing an additional 161 shares in the last quarter. Parallel Advisors LLC boosted its stake in Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company's stock valued at $31,000 after purchasing an additional 197 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Freshpet by 32.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 882 shares of the company's stock valued at $53,000 after purchasing an additional 214 shares in the last quarter. Finally, Ossiam boosted its stake in Freshpet by 81.1% during the 2nd quarter. Ossiam now owns 509 shares of the company's stock valued at $35,000 after purchasing an additional 228 shares in the last quarter.
About Freshpet
(
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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