Freshpet (NASDAQ:FRPT) CEO William Cyr Sells 42,328 Shares

Freshpet, Inc. (NASDAQ:FRPT) CEO William Cyr sold 42,328 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $50.52, for a total value of $2,138,410.56. Following the sale, the chief executive officer directly owned 125,898 shares of the company’s stock, valued at approximately $6,360,366.96. This represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Freshpet Trading Down 5.1%

Shares of Freshpet stock traded down $2.64 on Wednesday, reaching $48.63. 2,220,973 shares of the company were exchanged, compared to its average volume of 1,506,688. Freshpet, Inc. has a fifty-two week low of $46.76 and a fifty-two week high of $89.80. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.00 and a beta of 1.73. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $66.63 and a 200-day moving average price of $64.46.

Freshpet (NASDAQ:FRPT) last issued its quarterly 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 analysts’ expectations of $285.66 million. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.Freshpet’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, analysts expect that Freshpet, Inc. will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

FRPT has been the topic of a number of recent analyst reports. DA Davidson boosted their price target on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $63.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. Piper Sandler increased their target price on Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freshpet in a research report on Monday, April 20th. Finally, Wells Fargo & Company lowered their price target on Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average target price of $74.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Militia Capital Management LLC purchased a new stake in Freshpet in the 1st quarter worth approximately $542,000. First Trust Advisors LP purchased a new position in shares of Freshpet during the 1st quarter valued at $8,657,000. Dimensional Fund Advisors LP increased its stake in shares of Freshpet by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 917,785 shares of the company’s stock worth $54,103,000 after acquiring an additional 78,196 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Freshpet by 200.6% during the first quarter. Jennison Associates LLC now owns 651,202 shares of the company’s stock worth $38,395,000 after acquiring an additional 434,582 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Freshpet by 58.4% during the first quarter. D.A. Davidson & CO. now owns 7,168 shares of the company’s stock worth $423,000 after acquiring an additional 2,642 shares in the last quarter.

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.