Walter George Buys 1,000 Shares of Freshpet (NASDAQ:FRPT) Stock

Freshpet, Inc. (NASDAQ:FRPT) Director Walter George bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $64.92 per share, with a total value of $64,920.00. Following the completion of the purchase, the director directly owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This represents a 1.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Freshpet Stock Down 0.7%

Shares of FRPT stock opened at $61.57 on Friday. The company’s fifty day simple moving average is $65.64 and its two-hundred day simple moving average is $62.15. Freshpet, Inc. has a 52 week low of $46.45 and a 52 week high of $86.00. The stock has a market cap of $3.03 billion, a P/E ratio of 16.20 and a beta of 1.66. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in Freshpet by 30.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock worth $118,982,000 after acquiring an additional 461,444 shares during the period. California State Teachers Retirement System increased its position in Freshpet by 27.2% during the 1st quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock valued at $3,506,000 after purchasing an additional 12,732 shares during the period. Fortis Group Advisors LLC bought a new stake in shares of Freshpet in the 4th quarter valued at about $1,722,000. WINTON GROUP Ltd purchased a new stake in shares of Freshpet in the 4th quarter worth approximately $3,363,000. Finally, Commerce Bank purchased a new stake in shares of Freshpet in the 2nd quarter worth approximately $3,030,000.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Freshpet in a report on Thursday, August 27th. Morgan Stanley restated an “equal weight” rating and issued a $72.00 price target (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th. Benchmark reiterated a “buy” rating on shares of Freshpet in a research report on Wednesday, August 19th. Bank of America dropped their price objective on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Freshpet from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.31.

Freshpet Company Profile

Freshpet, Inc is a pet food company that develops, manufactures and markets fresh, refrigerated food and treats for dogs and cats. Its products are made with ingredients such as meat, poultry, fish, vegetables and other nutrients, and are positioned as an alternative to conventional shelf-stable pet food.

The company sells products primarily under the Freshpet brand, including refrigerated meals, rolls, recipes and treats. Freshpet products are distributed through grocery stores, mass retailers, pet specialty stores, natural and specialty food retailers, and e-commerce channels.