Freshpet (FRPT) Hits New 1-Year High at $48.24

Freshpet Inc (NASDAQ:FRPT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.24 and last traded at $47.67, with a volume of 22449 shares. The stock had previously closed at $46.65.

Several research firms have recently issued reports on FRPT. Zacks Investment Research upgraded shares of Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 target price for the company in a report on Monday, May 6th. BidaskClub upgraded shares of Freshpet from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. TheStreet lowered shares of Freshpet from a “b” rating to a “c” rating in a report on Monday, April 1st. Imperial Capital restated an “in-line” rating and issued a $40.00 target price (up previously from $35.00) on shares of Freshpet in a report on Monday, March 4th. Finally, Credit Suisse Group set a $36.00 price objective on shares of Freshpet and gave the company a “neutral” rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $40.00.

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -316.67 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The company had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts expect that Freshpet Inc will post 0.08 earnings per share for the current year.

In related news, major shareholder Associates Spc Midocean sold 4,000,000 shares of Freshpet stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $38.57, for a total transaction of $154,280,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen Macchiaverna sold 25,000 shares of Freshpet stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the vice president now owns 90,860 shares of the company’s stock, valued at approximately $3,634,400. The disclosure for this sale can be found here. Insiders have sold a total of 4,075,000 shares of company stock valued at $157,280,000 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in Freshpet by 749.2% during the 1st quarter. FMR LLC now owns 2,538,489 shares of the company’s stock valued at $107,353,000 after purchasing an additional 2,239,553 shares during the period. BlackRock Inc. increased its position in Freshpet by 2.1% during the 1st quarter. BlackRock Inc. now owns 1,916,282 shares of the company’s stock valued at $81,040,000 after purchasing an additional 39,144 shares during the period. Vanguard Group Inc. increased its position in Freshpet by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,452,872 shares of the company’s stock valued at $53,320,000 after purchasing an additional 69,768 shares during the period. Vanguard Group Inc increased its position in Freshpet by 5.0% during the 3rd quarter. Vanguard Group Inc now owns 1,452,872 shares of the company’s stock valued at $53,320,000 after purchasing an additional 69,768 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Freshpet by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 993,411 shares of the company’s stock valued at $42,012,000 after purchasing an additional 14,796 shares during the period. Institutional investors own 75.29% of the company’s stock.

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Freshpet Company Profile (NASDAQ:FRPT)

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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