Freshpet (NASDAQ:FRPT) Director Craig Steeneck Buys 2,000 Shares

Freshpet, Inc. (NASDAQ:FRPT) Director Craig Steeneck purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $47.83 per share, with a total value of $95,660.00. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at approximately $1,793,625. This trade represents a 5.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Freshpet Trading Up 0.5%

NASDAQ FRPT traded up $0.28 on Friday, hitting $51.58. The company’s stock had a trading volume of 1,708,536 shares, compared to its average volume of 1,533,494. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.31. The company’s 50-day moving average is $61.76 and its 200 day moving average is $64.27. The firm has a market cap of $2.53 billion, a PE ratio of 13.79 and a beta of 1.73.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The firm had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.66 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Freshpet, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, April 8th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $63.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. Stephens reiterated an “overweight” rating and set a $90.00 price objective on shares of Freshpet in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Freshpet in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FRPT. Wasatch Advisors LP boosted its stake in Freshpet by 41.0% during the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock worth $260,921,000 after acquiring an additional 1,116,217 shares in the last quarter. Balyasny Asset Management L.P. boosted 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 worth $56,781,000 after acquiring an additional 1,031,905 shares in the last quarter. Capital World Investors boosted its stake in Freshpet by 151.8% during the third quarter. Capital World Investors now owns 1,482,778 shares of the company’s stock worth $81,716,000 after acquiring an additional 893,949 shares in the last quarter. Alberta Investment Management Corp bought a new position in Freshpet during the third quarter worth $41,862,000. Finally, Armistice Capital LLC boosted 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 worth $68,050,000 after acquiring an additional 669,399 shares in the last quarter.

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.