Freshpet (NASDAQ:FRPT) Stock Price Down 6.8% – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT) dropped 6.8% during trading on Monday . The company traded as low as $51.60 and last traded at $51.2630. Approximately 197,858 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,517,776 shares. The stock had previously closed at $55.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FRPT shares. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a research report on Thursday, May 7th. TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, April 8th. Stephens reissued an “overweight” rating and set a $90.00 target price on shares of Freshpet in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $63.00 target price on shares of Freshpet in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.88.

Freshpet Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18. The firm’s 50 day moving average is $56.64 and its 200-day moving average is $63.83. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.88 and a beta of 1.63.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 42,907 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total value of $2,056,103.44. Following the completion of the transaction, the chief executive officer owned 204,585 shares in the company, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have acquired 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased 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 in the last quarter. Motiv8 Investments LLC purchased a new position in Freshpet during the fourth quarter worth approximately $28,000. Signaturefd LLC grew its holdings in Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares during the period. Parallel Advisors LLC grew its holdings in Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after purchasing an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Freshpet by 445.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after buying an additional 432 shares in the last quarter.

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.