Wells Fargo & Company Cuts Freshpet (NASDAQ:FRPT) Price Target to $65.00

Freshpet (NASDAQ:FRPT) had its price target trimmed by Wells Fargo & Company from $88.00 to $65.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently commented on FRPT. UBS Group decreased their price target on Freshpet from $65.00 to $48.00 and set a “sell” rating on the stock in a research note on Monday, September 8th. DA Davidson set a $101.00 price objective on Freshpet in a research report on Thursday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price (down from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. Zacks Research upgraded shares of Freshpet from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.43.

Freshpet Price Performance

NASDAQ:FRPT opened at $49.68 on Thursday. The firm’s fifty day moving average is $59.95 and its two-hundred day moving average is $71.80. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 74.15, a PEG ratio of 0.92 and a beta of 1.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. Freshpet has a one year low of $48.41 and a one year high of $164.07.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.12 by $0.21. The company had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. Research analysts expect that Freshpet will post 1.55 EPS for the current year.

Insider Transactions at Freshpet

In related news, Director Jacki Sue Kelley bought 814 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were bought at an average cost of $56.50 per share, for a total transaction of $45,991.00. Following the completion of the purchase, the director owned 11,907 shares of the company’s stock, valued at $672,745.50. This represents a 7.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter N. George acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was acquired at an average cost of $52.57 per share, with a total value of $52,570.00. Following the completion of the acquisition, the director directly owned 46,527 shares in the company, valued at approximately $2,445,924.39. This represents a 2.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 6,008 shares of company stock worth $332,305. 4.43% of the stock is currently owned by company insiders.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in Freshpet by 41.0% during the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock valued at $260,921,000 after acquiring an additional 1,116,217 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Freshpet by 41.5% in the second quarter. Champlain Investment Partners LLC now owns 2,568,954 shares of the company’s stock worth $174,586,000 after purchasing an additional 753,070 shares during the period. Armistice Capital LLC acquired a new position in shares of Freshpet during the 1st quarter worth about $59,630,000. AQR Capital Management LLC boosted its stake in Freshpet by 278.5% during the 2nd quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock valued at $58,444,000 after purchasing an additional 632,756 shares during the period. Finally, Engaged Capital LLC acquired a new stake in Freshpet in the 2nd quarter valued at approximately $42,076,000.

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.