Freshpet (NASDAQ:FRPT) Director Walter George Acquires 2,000 Shares of Stock

Freshpet, Inc. (NASDAQ:FRPTGet Free Report) Director Walter George purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $54.67 per share, for a total transaction of $109,340.00. Following the purchase, the director directly owned 50,746 shares of the company’s stock, valued at approximately $2,774,283.82. The trade was a 4.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Freshpet Trading Down 6.5%

Shares of Freshpet stock opened at $49.64 on Tuesday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.27 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. Freshpet, Inc. has a 12-month low of $46.76 and a 12-month high of $89.80. The firm’s 50 day simple moving average is $67.29 and its two-hundred day simple moving average is $64.51.

Freshpet (NASDAQ:FRPTGet Free Report) last issued its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. Analysts predict that Freshpet, Inc. will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently bought and sold shares of FRPT. Royal Bank of Canada grew its position in Freshpet by 86.3% in the 1st quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after acquiring an additional 31,334 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Freshpet by 734.1% in the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after purchasing an additional 1,593 shares during the period. United Services Automobile Association purchased a new position in shares of Freshpet in the first quarter valued at approximately $247,000. EverSource Wealth Advisors LLC grew its holdings in shares of Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Freshpet by 140.3% during the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock worth $428,000 after buying an additional 3,676 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FRPT shares. DA Davidson raised their target price on Freshpet from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, March 20th. Morgan Stanley reiterated an “overweight” rating and set a $77.00 price target on shares of Freshpet in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freshpet in a research note on Monday, April 20th. Finally, Benchmark upped their target price on Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.88.

View Our Latest Report on FRPT

About Freshpet

(Get Free Report)

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.

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