Freshpet (NASDAQ:FRPT) CEO William Cyr Sells 41,022 Shares

Freshpet, Inc. (NASDAQ:FRPT) CEO William Cyr sold 41,022 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $72.86, for a total value of $2,988,862.92. Following the completion of the sale, the chief executive officer owned 267,152 shares of the company’s stock, valued at $19,464,694.72. The trade was a 13.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Freshpet Stock Up 3.3%

Shares of FRPT stock traded up $2.40 during trading on Wednesday, reaching $75.03. The company’s stock had a trading volume of 1,345,979 shares, compared to its average volume of 1,503,989. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 19.74 and a beta of 1.61. The business has a fifty day moving average price of $59.23 and a 200-day moving average price of $62.63. Freshpet, Inc. has a one year low of $46.45 and a one year high of $86.00.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business had revenue of $305.59 million during the quarter, compared to analyst estimates of $292.35 million. During the same period in the prior year, the firm posted $0.33 EPS. Freshpet’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts anticipate that Freshpet, Inc. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FRPT shares. Wells Fargo & Company dropped their price objective on Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Benchmark reiterated a “buy” rating on shares of Freshpet in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $70.00 target price on shares of Freshpet in a research report on Thursday, August 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price objective (down from $77.00) on shares of Freshpet in a research note on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.31.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of FRPT. Caitong International Asset Management Co. Ltd boosted its stake in shares of Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Freshpet during the 2nd quarter worth approximately $25,000. Motiv8 Investments LLC bought a new position in shares of Freshpet in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC increased its stake in shares of Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in Freshpet in the fourth quarter worth approximately $32,000.

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.