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

Freshpet, Inc. (NASDAQ:FRPT) Director Craig Steeneck bought 2,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $47.83 per share, with a total value of $95,660.00. Following the purchase, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Freshpet Trading Up 0.5%

Shares of NASDAQ:FRPT opened at $51.58 on Friday. The firm has a fifty day moving average of $61.18 and a two-hundred day moving average of $64.18. The firm has a market capitalization of $2.53 billion, a P/E ratio of 13.79 and a beta of 1.73. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.31. 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 (NASDAQ:FRPT) last issued its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. The company had revenue of $285.23 million during 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 business posted $0.36 EPS. On average, equities analysts expect that Freshpet, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FRPT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freshpet in a research note on Monday, April 20th. DA Davidson lifted their price objective on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $63.00 price objective on shares of Freshpet in a research note on Thursday, May 7th. Piper Sandler lifted their price objective on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised shares of Freshpet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $66.00 to $68.00 in a research note on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.88.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC bought a new position in Freshpet in the 4th quarter worth $28,000. State of Wyoming bought a new position in Freshpet in the 2nd quarter worth $34,000. Signaturefd LLC raised its holdings in Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after acquiring an additional 296 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 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.