Freshpet (NASDAQ:FRPT) CEO Sells $2,056,103.44 in Stock

Freshpet, Inc. (NASDAQ:FRPT) CEO William Cyr sold 42,907 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the sale, the chief executive officer directly owned 204,585 shares in the company, valued at $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Freshpet Stock Up 0.5%

Shares of NASDAQ:FRPT traded up $0.28 during midday trading on Friday, reaching $51.58. The company’s stock had a trading volume of 1,708,536 shares, compared to its average volume of 1,533,494. The firm has a 50 day moving average of $61.76 and a 200-day moving average of $64.27. The firm has a market capitalization of $2.53 billion, a P/E ratio of 13.79 and a beta of 1.73. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.31.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The firm had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts anticipate that Freshpet, Inc. will post 1.71 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FRPT. Wells Fargo & Company reduced their target price on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Benchmark upped their price target on shares of Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Jefferies Financial Group dropped their price target on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $77.00 price target on shares of Freshpet in a research note on Thursday, May 7th. 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 company’s stock. According to MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and a consensus target price of $74.88.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently bought and sold shares of FRPT. Caitong International Asset Management Co. Ltd boosted its stake in Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Motiv8 Investments LLC bought a new position in Freshpet in the 4th quarter worth about $28,000. Signaturefd LLC boosted its stake in Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC boosted its stake in Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Freshpet by 445.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after acquiring an additional 432 shares during the period.

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.