Key Points
- Freshpet director Walter George bought 1,000 shares at an average price of $64.92, investing $64,920 and increasing his ownership by 1.97% to 51,746 shares.
- Freshpet reported quarterly EPS of $0.39, beating estimates of $0.22, while revenue rose 15.4% year over year to $305.59 million, above analyst expectations.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $75.31 versus the stock’s reported price of $62.03.
Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) Director Walter George purchased 1,000 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the purchase, the director owned 51,746 shares in the company, valued at approximately $3,359,350.32. The trade was a 1.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Freshpet Stock Performance
NASDAQ FRPT opened at $62.03 on Thursday. The stock has a fifty day simple moving average of $65.52 and a 200-day simple moving average of $62.31. The company has a current ratio of 6.05, a quick ratio of 5.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.05 billion, a PE ratio of 16.32 and a beta of 1.66. Freshpet, Inc. has a twelve month low of $46.45 and a twelve month high of $86.00.
Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The firm had revenue of $305.59 million for the quarter, compared to analyst estimates of $292.35 million. During the same period in the previous year, the firm earned $0.33 EPS. Freshpet's revenue was up 15.4% on a year-over-year basis. Equities analysts anticipate that Freshpet, Inc. will post 1.73 earnings per share for the current year.
Institutional Trading of Freshpet
Several hedge funds have recently modified their holdings of FRPT. Tidal Investments LLC increased its holdings in Freshpet by 1.8% during the 2nd quarter. Tidal Investments LLC now owns 39,313 shares of the company's stock worth $2,324,000 after purchasing an additional 697 shares during the period. WINTON GROUP Ltd grew its position in shares of Freshpet by 456.0% during the second quarter. WINTON GROUP Ltd now owns 116,816 shares of the company's stock worth $6,906,000 after buying an additional 95,806 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Freshpet during the second quarter worth about $34,000. Amundi grew its position in shares of Freshpet by 6.2% during the second quarter. Amundi now owns 16,944 shares of the company's stock worth $1,002,000 after buying an additional 986 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Freshpet during the second quarter worth approximately $840,000.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on FRPT shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $70.00 price objective on shares of Freshpet in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $72.00 price objective (down from $77.00) on shares of Freshpet in a research note on Thursday, August 6th. Benchmark reiterated a "buy" rating on shares of Freshpet in a report on Wednesday, August 19th. TD Cowen increased their target price on Freshpet from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, DA Davidson decreased their target price on Freshpet from $101.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.31.
Read Our Latest Stock Analysis on FRPT
Freshpet Company Profile
(
Get Free Report)
Freshpet, Inc is a pet food company that develops, manufactures and markets fresh, refrigerated food and treats for dogs and cats. Its products are made with ingredients such as meat, poultry, fish, vegetables and other nutrients, and are positioned as an alternative to conventional shelf-stable pet food.
The company sells products primarily under the Freshpet brand, including refrigerated meals, rolls, recipes and treats. Freshpet products are distributed through grocery stores, mass retailers, pet specialty stores, natural and specialty food retailers, and e-commerce channels.
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