Walter George Buys 2,000 Shares of Freshpet (NASDAQ:FRPT) Stock

Freshpet, Inc. (NASDAQ:FRPT) Director Walter George acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average price of $54.67 per share, for a total transaction of $109,340.00. Following the purchase, the director owned 50,746 shares of the company’s stock, valued at $2,774,283.82. This trade represents a 4.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $51.27 on Wednesday. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $66.63 and its two-hundred day moving average price is $64.46. Freshpet, Inc. has a 52-week low of $46.76 and a 52-week high of $89.80. The stock has a market capitalization of $2.52 billion, a P/E ratio of 13.71 and a beta of 1.73.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, February 23rd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts forecast that Freshpet, Inc. will post 1.62 earnings per share for the current year.

Institutional Trading of Freshpet

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its stake in Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Freshpet in the fourth quarter worth $28,000. State of Wyoming bought a new position in shares of Freshpet in the second quarter worth $34,000. Signaturefd LLC increased its holdings in shares of Freshpet by 143.0% during the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares during the period.

Analyst Upgrades and Downgrades

FRPT has been the topic of several analyst reports. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, March 20th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, April 8th. Morgan Stanley restated an “overweight” rating and set a $77.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Stephens reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Freshpet in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. upgraded shares of Freshpet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.88.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.