William Cyr Sells 42,328 Shares of Freshpet (NASDAQ:FRPT) Stock

Freshpet, Inc. (NASDAQ:FRPT) CEO William Cyr sold 42,328 shares of Freshpet stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $50.52, for a total value of $2,138,410.56. Following the sale, the chief executive officer owned 125,898 shares of the company’s stock, valued at approximately $6,360,366.96. This represents a 25.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Freshpet Stock Down 5.1%

Shares of NASDAQ FRPT traded down $2.64 during trading hours on Wednesday, hitting $48.63. The stock had a trading volume of 2,220,973 shares, compared to its average volume of 1,506,688. The firm’s 50-day moving average price is $66.63 and its two-hundred day moving average price is $64.46. Freshpet, Inc. has a 52 week low of $46.76 and a 52 week high of $89.80. The company has a market capitalization of $2.39 billion, a P/E ratio of 13.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.66 million. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Analysts anticipate that Freshpet, Inc. will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on FRPT shares. TD Cowen raised shares of 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. Benchmark boosted their price target on Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Piper Sandler upped their price target on Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. raised Freshpet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $68.00 in a report on Thursday, May 7th. Finally, Stephens reissued an “overweight” rating and issued a $90.00 price objective on shares of Freshpet in a research note on Tuesday, February 24th. Eleven equities research 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. Based on data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $74.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FRPT. JANA Partners Management LP boosted its stake in Freshpet by 4.1% during the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after purchasing an additional 41,373 shares during the period. Western Standard LLC bought a new position in Freshpet in the 3rd quarter worth approximately $3,527,000. ING Groep NV acquired a new position in shares of Freshpet during the third quarter worth approximately $6,354,000. Public Sector Pension Investment Board lifted its holdings in shares of Freshpet by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock worth $10,487,000 after buying an additional 24,045 shares during the last quarter. Finally, Deepwater Asset Management LLC boosted its position in shares of Freshpet by 14.3% in the third quarter. Deepwater Asset Management LLC now owns 190,301 shares of the company’s stock valued at $10,487,000 after acquiring an additional 23,768 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.