Freshpet (NASDAQ:FRPT) Sees Unusually-High Trading Volume – Time to Buy?

Freshpet, Inc. (NASDAQ:FRPT) saw unusually-strong trading volume on Tuesday . Approximately 1,379,077 shares traded hands during mid-day trading, an increase of 165% from the previous session’s volume of 519,472 shares.The stock last traded at $155.99 and had previously closed at $159.20.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FRPT. DA Davidson boosted their price objective on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird boosted their price objective on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.36.

Freshpet Stock Down 2.2 %

The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 174.86 and a beta of 1.42. The stock has a 50 day moving average of $151.04 and a 200 day moving average of $142.00.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business’s revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, analysts expect that Freshpet, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now owns 122,380 shares of the company’s stock, valued at $19,260,164.40. This trade represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $1,962,175 over the last 90 days. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. WCM Investment Management LLC raised its holdings in shares of Freshpet by 4.0% in the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after purchasing an additional 110,478 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after buying an additional 37,287 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after acquiring an additional 154,909 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Freshpet by 21.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 243,187 shares of the company’s stock worth $36,018,000 after acquiring an additional 43,595 shares in the last quarter.

About Freshpet

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.