Shares of Freshpet, Inc. (NASDAQ:FRPT – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $130.57, but opened at $123.31. Freshpet shares last traded at $115.82, with a volume of 1,018,740 shares traded.
Analysts Set New Price Targets
A number of research analysts have recently commented on FRPT shares. DA Davidson raised their price target on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird upped their target price on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $164.29.
View Our Latest Research Report on Freshpet
Freshpet Trading Down 18.1 %
Freshpet (NASDAQ:FRPT – Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. As a group, analysts expect that Freshpet, Inc. will post 0.89 EPS for the current fiscal year.
Insider Activity at Freshpet
In other news, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Freshpet
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its position in shares of Freshpet by 749.7% during the third quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock valued at $376,187,000 after purchasing an additional 2,445,199 shares during the period. Norges Bank bought a new position in shares of Freshpet during the fourth quarter valued at $75,253,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after purchasing an additional 253,679 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after buying an additional 186,889 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after purchasing an additional 154,909 shares in the last quarter.
About Freshpet
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.
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