Freshpet (NASDAQ:FRPT) Stock Price Down 4.5%

Freshpet, Inc. (NASDAQ:FRPT) shares fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $123.40 and last traded at $123.57. 225,877 shares changed hands during trading, a decline of 62% from the average session volume of 599,044 shares. The stock had previously closed at $129.43.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FRPT shares. Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price on shares of Freshpet in a report on Tuesday, July 2nd. StockNews.com raised Freshpet to a “sell” rating in a report on Saturday, May 4th. Oppenheimer increased their target price on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Bank of America increased their target price on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.71.

Freshpet Trading Up 0.1 %

The firm has a market cap of $6.17 billion, a P/E ratio of 707.76 and a beta of 1.36. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $127.67 and a two-hundred day moving average of $109.08.

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 return on equity of 0.20% and a net margin of 1.19%. The business had revenue of $223.85 million during the quarter, compared to analyst estimates of $216.43 million. Analysts predict that Freshpet, Inc. will post 0.54 earnings per share for the current year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.15, for a total value of $786,742.20. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $10,337,585.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 13,560 shares of company stock worth $1,701,580. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

A number of hedge funds have recently made changes to their positions in FRPT. Oak Thistle LLC purchased a new stake in shares of Freshpet during the fourth quarter valued at about $1,200,000. Impax Asset Management Group plc acquired a new stake in shares of Freshpet in the fourth quarter worth approximately $4,338,000. Nicholas Investment Partners LP purchased a new position in Freshpet in the 4th quarter worth approximately $2,278,000. Allspring Global Investments Holdings LLC boosted its holdings in Freshpet by 53.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock valued at $16,151,000 after purchasing an additional 48,401 shares during the last quarter. Finally, Trust Point Inc. purchased a new stake in shares of Freshpet in the 4th quarter valued at approximately $963,000.

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.