Freshpet, Inc. (NASDAQ:FRPT) Sees Large Growth in Short Interest

Freshpet, Inc. (NASDAQ:FRPT) saw a large increase in short interest in April. As of April 30th, there was short interest totalling 5,970,000 shares, an increase of 5.5% from the April 15th total of 5,660,000 shares. Based on an average trading volume of 656,300 shares, the days-to-cover ratio is presently 9.1 days.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the transaction, the executive vice president now directly owns 85,056 shares in the company, valued at approximately $9,231,127.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Freshpet news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,921,948.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the sale, the executive vice president now 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 a total of 23,322 shares of company stock worth $2,646,080 in the last three months. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Several large investors have recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC purchased a new position in Freshpet during the first quarter valued at approximately $348,000. Bayesian Capital Management LP lifted its holdings in Freshpet by 37.6% during the first quarter. Bayesian Capital Management LP now owns 16,458 shares of the company’s stock valued at $1,907,000 after purchasing an additional 4,500 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Freshpet by 199.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock valued at $11,462,000 after purchasing an additional 65,868 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Freshpet during the first quarter valued at approximately $4,857,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Freshpet during the first quarter valued at approximately $811,000.

Freshpet Stock Performance

FRPT opened at $126.65 on Friday. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 703.65 and a beta of 1.24. The company’s 50 day moving average is $112.81 and its 200 day moving average is $93.24. Freshpet has a 12-month low of $54.60 and a 12-month high of $129.19.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The firm’s revenue was up 29.9% compared to the same quarter last year. On average, equities research analysts predict that Freshpet will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FRPT. JPMorgan Chase & Co. raised 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 raised their price objective on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Wells Fargo & Company raised their price target on shares of Freshpet from $124.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Piper Sandler raised their price target on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, DA Davidson raised their price target on shares of Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.71.

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.