Freshpet (NASDAQ:FRPT) Hits New 12-Month High at $144.15

Freshpet, Inc. (NASDAQ:FRPT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $144.15 and last traded at $144.15, with a volume of 865 shares trading hands. The stock had previously closed at $140.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FRPT. Piper Sandler restated an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research report on Tuesday, July 2nd. Oppenheimer boosted their price target on shares of Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Freshpet in a research note on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price objective for the company. Citigroup lifted their target price on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Finally, TD Cowen upped their target price on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Trading Up 1.9 %

The firm has a market cap of $6.82 billion, a PE ratio of 782.89 and a beta of 1.39. The company’s fifty day moving average price is $129.81 and its two-hundred day moving average price is $123.14. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. During the same period last year, the firm earned ($0.35) EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several institutional investors and hedge funds have recently made changes to their positions in FRPT. GAMMA Investing LLC grew its position in shares of Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Freshpet by 13.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock valued at $169,000 after buying an additional 159 shares in the last quarter. Amalgamated Bank grew its holdings in Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock valued at $355,000 after buying an additional 171 shares during the last quarter. CWM LLC increased its position in Freshpet by 65.9% during the second quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after buying an additional 197 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of Freshpet by 9.6% in the second quarter. RiverPark Advisors LLC now owns 2,568 shares of the company’s stock worth $332,000 after acquiring an additional 226 shares during the last quarter.

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.