Wall Street Zen upgraded shares of Freshpet (NASDAQ:FRPT – Free Report) from a sell rating to a hold rating in a report released on Sunday morning.
Other research analysts have also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. Morgan Stanley reissued an “overweight” rating and set a $77.00 price target on shares of Freshpet in a report on Thursday, May 7th. DA Davidson upgraded shares of Freshpet to a “strong-buy” rating in a research note on Monday, July 6th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, April 8th. Finally, Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.
Read Our Latest Stock Report on FRPT
Freshpet Stock Up 4.6%
Insiders Place Their Bets
In related news, CEO William B. Cyr sold 42,907 shares of Freshpet 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 transaction, the chief executive officer directly owned 204,585 shares of the company’s stock, valued at $9,803,713.20. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 4,211 shares of company stock worth $215,027 and sold 235,262 shares worth $11,664,591. 4.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Freshpet
Several large investors have recently made changes to their positions in FRPT. Wasatch Advisors LP grew its stake in shares of Freshpet by 41.0% in the 2nd quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock worth $260,921,000 after purchasing an additional 1,116,217 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Freshpet by 1,031.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company’s stock valued at $56,781,000 after purchasing an additional 1,031,905 shares during the last quarter. Armistice Capital LLC lifted its stake in Freshpet by 118.4% during the third quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock valued at $68,050,000 after purchasing an additional 669,399 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Freshpet by 122.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock worth $72,953,000 after buying an additional 658,114 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Freshpet by 278.5% in the second quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock worth $58,444,000 after buying an additional 632,756 shares during 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.
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