Freshpet (NASDAQ:FRPT) Trading Down 4.5%

Shares of Freshpet, Inc. (NASDAQ:FRPT) fell 4.5% during trading on Wednesday . The company traded as low as $123.40 and last traded at $123.57. 225,877 shares changed hands during trading, a decline of 62% from the average session volume of 599,044 shares. The stock had previously closed at $129.43.

Analysts Set New Price Targets

Several research analysts recently weighed in on FRPT shares. Redburn Atlantic upgraded shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Thursday, May 23rd. Bank of America increased their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. DA Davidson lifted their target price on shares of Freshpet from $138.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 target price on shares of Freshpet in a report on Tuesday, July 2nd. Finally, Benchmark raised their price target on shares of Freshpet from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and an average price target of $131.71.

Freshpet Stock Down 6.2 %

The business’s 50 day moving average price is $126.94 and its 200-day moving average price is $108.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97. The firm has a market capitalization of $5.88 billion, a PE ratio of 676.20 and a beta of 1.36.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. The company had revenue of $223.85 million for the quarter, compared to analyst estimates of $216.43 million. As a group, equities research analysts forecast that Freshpet, Inc. will post 0.54 earnings per share for the current year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.15, for a total transaction of $786,742.20. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $10,337,585.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 13,560 shares of company stock valued at $1,701,580. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after buying an additional 108 shares during the period. CWM LLC increased its position in shares of Freshpet by 65.9% in the 2nd quarter. CWM LLC now owns 496 shares of the company’s stock valued at $64,000 after purchasing an additional 197 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Freshpet by 1.4% in the 1st quarter. Diversified Trust Co now owns 21,171 shares of the company’s stock valued at $2,453,000 after purchasing an additional 287 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Freshpet during the 1st quarter worth $36,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Freshpet during the fourth quarter worth $29,000.

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.