Freshpet (NASDAQ:FRPT) Trading Down 5.7% – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT)’s stock price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $146.26 and last traded at $146.81. 401,583 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 551,089 shares. The stock had previously closed at $155.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Truist Financial upped their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Oppenheimer lifted their price target on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, DA Davidson upped their price objective on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.36.

Freshpet Stock Down 0.9 %

The stock has a 50-day moving average of $150.86 and a 200 day moving average of $142.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a market cap of $7.14 billion, a P/E ratio of 165.28 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same period in the previous year, the company earned ($0.15) EPS. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. Research analysts anticipate that Freshpet, Inc. will post 0.9 earnings per share for the current year.

Insider Activity at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new position in shares of Freshpet in the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its position in Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after acquiring an additional 151 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Freshpet during the third quarter valued at $32,000. Jones Financial Companies Lllp lifted its holdings in shares of Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 123 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Freshpet in the fourth quarter worth $39,000.

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.