Freshpet (NASDAQ:FRPT) CEO Sells $2,105,618.76 in Stock

Freshpet, Inc. (NASDAQ:FRPT) CEO William Cyr sold 42,693 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $49.32, for a total value of $2,105,618.76. Following the transaction, the chief executive officer directly owned 165,446 shares in the company, valued at approximately $8,159,796.72. The trade was a 20.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Freshpet Stock Down 2.2%

Shares of FRPT stock traded down $1.06 during trading hours on Tuesday, reaching $47.39. 1,616,492 shares of the company’s stock were exchanged, compared to its average volume of 1,512,846. The stock’s 50 day moving average is $63.76 and its 200-day moving average is $64.31. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 12.67 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 fifty-two week low of $46.76 and a fifty-two week high of $89.80.

Freshpet (NASDAQ:FRPT) last issued its quarterly 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 business had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a return on equity of 6.22% and a net margin of 17.63%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. Analysts predict that Freshpet, Inc. will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after acquiring an additional 358 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Freshpet in the 4th quarter valued at $28,000. Signaturefd LLC increased its position in shares of Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after acquiring an additional 296 shares during the period. Parallel Advisors LLC increased its position in shares of Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after acquiring an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Freshpet by 445.4% in 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRPT. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, March 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $77.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Wells Fargo & Company reduced their price target on Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Bank of America reduced their price target on Freshpet from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, TD Cowen raised Freshpet from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, April 8th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $74.88.

About Freshpet

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.