Freshpet (NASDAQ:FRPT) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Freshpet (NASDAQ:FRPT) announced its quarterly earnings results on Monday. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21, FiscalAI reports. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million.

Freshpet Price Performance

Shares of FRPT opened at $74.51 on Monday. The company has a 50 day moving average of $66.55 and a two-hundred day moving average of $59.52. The company has a quick ratio of 4.61, a current ratio of 5.52 and a debt-to-equity ratio of 0.36. Freshpet has a twelve month low of $46.76 and a twelve month high of $111.62. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.72.

Insider Activity at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the sale, the president owned 30,858 shares of the company’s stock, valued at $1,923,379.14. This trade represents a 14.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several institutional investors have recently added to or reduced their stakes in FRPT. Corient Private Wealth LLC acquired a new position in shares of Freshpet during the fourth quarter valued at about $227,000. Mercer Global Advisors Inc. ADV boosted its stake in Freshpet by 68.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,110 shares of the company’s stock worth $555,000 after purchasing an additional 3,705 shares in the last quarter. XTX Topco Ltd purchased a new stake in Freshpet during the 4th quarter worth approximately $361,000. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Freshpet in the fourth quarter worth $9,899,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Freshpet during the fourth quarter worth $962,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Freshpet from $70.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. TD Cowen reissued a “hold” rating on shares of Freshpet in a report on Thursday, January 8th. Bank of America upped their target price on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. UBS Group set a $48.00 target price on Freshpet and gave the company a “sell” rating in a research report on Tuesday, November 4th. Finally, Truist Financial cut their price target on Freshpet from $70.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.60.

About Freshpet

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.