Freshpet (NASDAQ:FRPT) Sets New 52-Week High at $125.50

Freshpet, Inc. (NASDAQ:FRPT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $125.50 and last traded at $125.50, with a volume of 56205 shares changing hands. The stock had previously closed at $109.58.

Analyst Ratings Changes

Several equities analysts recently weighed in on FRPT shares. Stifel Nicolaus raised their price objective on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Oppenheimer upped their price target on Freshpet from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. DA Davidson boosted their target price on Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.36.

Freshpet Price Performance

The firm has a market cap of $5.83 billion, a P/E ratio of -168.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. The company’s 50-day moving average is $109.84 and its two-hundred day moving average is $89.08.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. Sell-side analysts anticipate that Freshpet, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Scott James Morris sold 2,500 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at $13,709,007.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at $13,709,007.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock valued at $1,737,280 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of the company. RiverPark Advisors LLC boosted its position in shares of Freshpet by 467.1% in the first quarter. RiverPark Advisors LLC now owns 2,342 shares of the company’s stock valued at $271,000 after acquiring an additional 1,929 shares during the period. Central Pacific Bank Trust Division bought a new stake in Freshpet in the first quarter valued at $520,000. Whittier Trust Co. purchased a new stake in Freshpet in the first quarter worth about $41,000. Hardy Reed LLC bought a new stake in shares of Freshpet during the first quarter valued at approximately $253,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Freshpet by 53.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock worth $16,151,000 after acquiring an additional 48,401 shares in the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.