Freshpet (NASDAQ:FRPT) Shares Down 6.8% – Should You Sell?

Freshpet, Inc. (NASDAQ:FRPT) shares were down 6.8% on Monday . The company traded as low as $51.60 and last traded at $51.2630. 197,858 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,517,776 shares. The stock had previously closed at $55.01.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $77.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Wells Fargo & Company cut their price objective on Freshpet from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. DA Davidson raised their target price on Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. raised Freshpet from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $68.00 in a report on Thursday, May 7th. Finally, Jefferies Financial Group lowered their target price on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.88.

Freshpet Price Performance

The stock has a 50 day moving average of $56.10 and a two-hundred day moving average of $63.72. The stock has a market cap of $2.62 billion, a PE ratio of 14.27 and a beta of 1.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

Insider Activity at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of Freshpet stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total value 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. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have bought 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC purchased a new position in Freshpet during the 1st quarter worth approximately $542,000. California State Teachers Retirement System lifted its holdings in shares of Freshpet by 27.2% in the first quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock valued at $3,506,000 after purchasing an additional 12,732 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Freshpet by 13.6% in the first quarter. The Manufacturers Life Insurance Company now owns 10,183 shares of the company’s stock valued at $600,000 after purchasing an additional 1,217 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of Freshpet by 356.4% in the first quarter. Maverick Capital Ltd. now owns 34,509 shares of the company’s stock worth $2,035,000 after buying an additional 26,948 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Freshpet by 73.2% in the first quarter. Quantinno Capital Management LP now owns 87,376 shares of the company’s stock worth $5,152,000 after buying an additional 36,932 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.