Freshpet (NASDAQ:FRPT) Sets New 1-Year Low on Insider Selling

Freshpet, Inc. (NASDAQ:FRPT)’s share price reached a new 52-week low during trading on Wednesday following insider selling activity. The company traded as low as $46.45 and last traded at $47.8550, with a volume of 51143 shares. The stock had previously closed at $47.39.

Specifically, CEO William B. Cyr sold 4,490 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $49.09, for a total transaction of $220,414.10. Following the transaction, the chief executive officer owned 14,586 shares of the company’s stock, valued at $716,026.74. The trade was a 23.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William B. Cyr sold 42,693 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $49.32, for a total value of $2,105,618.76. Following the completion of the sale, the chief executive officer directly owned 165,446 shares of the company’s stock, valued at approximately $8,159,796.72. The trade was a 20.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, CEO William B. Cyr sold 4,489 shares of Freshpet stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $50.04, for a total transaction of $224,629.56. Following the completion of the transaction, the chief executive officer directly owned 18,247 shares in the company, valued at approximately $913,079.88. The trade was a 19.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

A number of research firms recently weighed in on FRPT. Oppenheimer upgraded Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, March 20th. DA Davidson increased their price objective on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Stephens reaffirmed an “overweight” rating and set a $90.00 target price on shares of Freshpet in a report on Tuesday, February 24th. TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, April 8th. Finally, Benchmark raised their price objective on shares of Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.88.

Freshpet Trading Up 0.4%

The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The business’s 50-day moving average is $63.06 and its 200 day moving average is $64.27. The firm has a market capitalization of $2.34 billion, a P/E ratio of 12.72 and a beta of 1.73.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The firm had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Freshpet, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in Freshpet by 27.2% during the 1st quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock worth $3,506,000 after acquiring an additional 12,732 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Freshpet by 13.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 10,183 shares of the company’s stock valued at $600,000 after acquiring an additional 1,217 shares during the period. Maverick Capital Ltd. grew its holdings in shares of Freshpet by 356.4% during the 1st quarter. Maverick Capital Ltd. now owns 34,509 shares of the company’s stock worth $2,035,000 after purchasing an additional 26,948 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Freshpet by 73.2% during the 1st quarter. Quantinno Capital Management LP now owns 87,376 shares of the company’s stock worth $5,152,000 after purchasing an additional 36,932 shares in the last quarter. Finally, Wealth Alliance LLC bought a new position in shares of Freshpet in the first quarter worth $210,000.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.