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

Freshpet, Inc. (NASDAQ:FRPT) reached a new 52-week high during 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FRPT. JPMorgan Chase & Co. lifted their price objective on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Robert W. Baird increased their price objective on Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com raised Freshpet to a “sell” rating in a report on Saturday. Piper Sandler raised their price objective on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, DA Davidson boosted their price objective on shares of Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus target price of $119.71.

Freshpet Stock Performance

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 stock has a market cap of $5.85 billion, a PE ratio of -170.00 and a beta of 1.24. The business has a 50 day moving average price of $110.64 and a two-hundred day moving average price of $90.00.

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

Insider Activity

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

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Freshpet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,652,698 shares of the company’s stock valued at $403,668,000 after purchasing an additional 32,178 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Freshpet by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after buying an additional 185,210 shares during the period. JANA Partners Management LP bought a new position in shares of Freshpet during the 3rd quarter worth $214,405,000. William Blair Investment Management LLC increased its stake in shares of Freshpet by 4.2% during the third quarter. William Blair Investment Management LLC now owns 2,740,708 shares of the company’s stock valued at $180,558,000 after buying an additional 110,383 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Freshpet by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock valued at $139,576,000 after acquiring an additional 17,678 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.