Freshpet (NASDAQ:FRPT) Hits New 1-Year High – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT) hit a new 52-week high on Monday . The company traded as high as $160.91 and last traded at $158.05, with a volume of 120431 shares changing hands. The stock had previously closed at $156.76.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price target on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen increased their price objective on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer raised their target price on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their price target on Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The business’s 50 day moving average is $142.64 and its 200 day moving average is $133.72. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 176.14 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same period last year, the company posted ($0.15) EPS. The business’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, equities analysts expect that Freshpet, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The trade was a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the 3rd quarter valued at approximately $32,000. Sanctuary Advisors LLC bought a new stake in Freshpet in the 3rd quarter valued at $351,000. Virtu Financial LLC acquired a new position in shares of Freshpet in the third quarter valued at $226,000. Geode Capital Management LLC raised its holdings in Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after acquiring an additional 37,287 shares during the period. Finally, M&T Bank Corp grew its position in shares of Freshpet by 8.8% in the third quarter. M&T Bank Corp now owns 2,183 shares of the company’s stock valued at $299,000 after purchasing an additional 177 shares during the last quarter.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.