Freshpet (NASDAQ:FRPT) Director Walter George Acquires 1,000 Shares

Freshpet, Inc. (NASDAQ:FRPT) Director Walter George purchased 1,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $64.92 per share, with a total value of $64,920.00. Following the acquisition, the director directly owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This trade represents a 1.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Freshpet Stock Performance

Shares of FRPT opened at $62.03 on Thursday. The business has a 50-day simple moving average of $65.52 and a two-hundred day simple moving average of $62.31. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 52 week low of $46.45 and a 52 week high of $86.00. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 16.32 and a beta of 1.66.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The firm had revenue of $305.59 million for the quarter, compared to analysts’ expectations of $292.35 million. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts expect that Freshpet, Inc. will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Optimize Financial Inc increased its position in Freshpet by 1.4% during the fourth quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock worth $668,000 after purchasing an additional 156 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Freshpet by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock worth $680,000 after purchasing an additional 161 shares during the period. Allworth Financial LP boosted its holdings in Freshpet by 41.0% in the 4th quarter. Allworth Financial LP now owns 1,025 shares of the company’s stock valued at $62,000 after purchasing an additional 298 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Freshpet during the 2nd quarter valued at approximately $25,000.

Analyst Ratings Changes

Several brokerages have weighed in on FRPT. DA Davidson lowered their price target on shares of Freshpet from $101.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Benchmark restated a “buy” rating on shares of Freshpet in a research report on Wednesday, August 19th. Bank of America lowered their target price on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $70.00 price target on shares of Freshpet in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

About Freshpet

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.