Freshpet (NASDAQ:FRPT) Reaches New 52-Week High at $134.30

Shares of Freshpet, Inc. (NASDAQ:FRPT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $134.30 and last traded at $132.95, with a volume of 65966 shares changing hands. The stock had previously closed at $132.36.

Analyst Upgrades and Downgrades

FRPT has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Piper Sandler restated an “overweight” rating and set a $150.00 price target on shares of Freshpet in a research report on Tuesday. Benchmark boosted their price target on shares of Freshpet from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Freshpet in a research report on Thursday, May 23rd. They set a “buy” rating and a $150.00 price target for the company. Finally, Redburn Atlantic upgraded shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.25.

Freshpet Price Performance

The firm’s 50-day moving average is $125.38 and its 200-day moving average is $107.51. The company has a market capitalization of $6.42 billion, a PE ratio of 735.94 and a beta of 1.36. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The company had revenue of $223.85 million during the quarter, compared to analyst estimates of $216.43 million. Equities analysts predict that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 6,548 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.15, for a total transaction of $786,742.20. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $10,337,585.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 13,560 shares of company stock worth $1,701,580 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Freshpet

Several institutional investors have recently added to or reduced their stakes in FRPT. Envestnet Asset Management Inc. boosted its position in Freshpet by 46.1% during the third quarter. Envestnet Asset Management Inc. now owns 81,013 shares of the company’s stock valued at $5,337,000 after buying an additional 25,558 shares during the period. JPMorgan Chase & Co. boosted its position in Freshpet by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock valued at $139,576,000 after buying an additional 17,678 shares during the period. Sei Investments Co. raised its stake in shares of Freshpet by 4.4% during the third quarter. Sei Investments Co. now owns 257,519 shares of the company’s stock valued at $16,965,000 after acquiring an additional 10,832 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Freshpet during the third quarter valued at about $5,621,000. Finally, VitalStone Financial LLC bought a new position in shares of Freshpet during the third quarter valued at about $426,000.

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.