Freshpet (NASDAQ:FRPT) PT Raised to $140.00 at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its price target boosted by investment analysts at Wells Fargo & Company from $124.00 to $140.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.44% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday. Oppenheimer upped their target price on shares of Freshpet from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and increased their target price for the stock from $120.00 to $135.00 in a report on Monday, March 11th. Finally, Piper Sandler raised their target price on Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.71.

Freshpet Stock Performance

NASDAQ:FRPT opened at $119.21 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 4.79. The firm’s 50-day moving average is $110.85 and its 200-day moving average is $90.45. Freshpet has a 52-week low of $54.60 and a 52-week high of $127.25. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 662.28 and a beta of 1.24.

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

Insider Activity at Freshpet

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

Institutional Trading of Freshpet

Several institutional investors and hedge funds have recently made changes to their positions in FRPT. Motley Fool Asset Management LLC bought a new stake in Freshpet in the first quarter valued at about $348,000. Russell Investments Group Ltd. increased its stake in shares of Freshpet by 5,447.4% in the 1st quarter. Russell Investments Group Ltd. now owns 10,651 shares of the company’s stock valued at $1,234,000 after acquiring an additional 10,459 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Freshpet by 90.2% in the 1st quarter. Headlands Technologies LLC now owns 2,079 shares of the company’s stock valued at $241,000 after acquiring an additional 986 shares during the period. Sei Investments Co. boosted its stake in Freshpet by 4.4% during the 1st quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after acquiring an additional 10,456 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Freshpet during the first quarter valued at approximately $287,000.

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.