Freshpet (NASDAQ:FRPT) PT Raised to $135.00

Freshpet (NASDAQ:FRPT) had its target price raised by analysts at Robert W. Baird from $125.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 13.25% from the stock’s previous close.

FRPT has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Stifel Nicolaus increased their target price on Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Citigroup started coverage on Freshpet in a report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target for the company. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and upped their price target for the company from $120.00 to $135.00 in a report on Monday, March 11th. Finally, StockNews.com upgraded shares of Freshpet to a “sell” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.71.

Freshpet Price Performance

Shares of FRPT opened at $119.21 on Tuesday. The firm has a 50-day simple moving average of $110.85 and a two-hundred day simple moving average of $90.45. The stock has a market cap of $5.77 billion, a PE ratio of 662.28 and a beta of 1.24. Freshpet has a 1-year low of $54.60 and a 1-year high of $127.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08.

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

Insider Buying and Selling

In other news, COO Scott James Morris sold 3,632 shares of Freshpet stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total value of $399,011.52. Following the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at $13,444,666.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Freshpet news, COO Scott James Morris sold 3,632 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total value of $399,011.52. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at $13,444,666.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of the business’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 completion of 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 have sold 15,762 shares of company stock worth $1,737,280 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

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