Freshpet (NASDAQ:FRPT) Trading 6.5% Higher – What’s Next?

Freshpet, Inc. (NASDAQ:FRPT)’s share price traded up 6.5% during trading on Friday . The stock traded as high as $55.91 and last traded at $56.8280. 91,988 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,514,886 shares. The stock had previously closed at $53.38.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $63.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Jefferies Financial Group cut their price target on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Finally, TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Wednesday, April 8th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and an average price target of $74.88.

Freshpet Trading Up 7.1%

The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The firm has a market capitalization of $2.81 billion, a PE ratio of 15.28 and a beta of 1.63. The business’s 50-day moving average price is $55.48 and its 200-day moving average price is $63.59.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 42,495 shares of Freshpet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the transaction, the chief executive officer directly owned 224,459 shares in the company, valued at approximately $11,454,142.77. The trade was a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig D. Steeneck bought 2,000 shares of Freshpet stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $47.83 per share, with a total value of $95,660.00. Following the completion of the acquisition, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. The trade was a 5.63% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in 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 acquiring an additional 358 shares during the period. Motiv8 Investments LLC acquired a new stake in Freshpet during the 4th quarter worth approximately $28,000. Signaturefd LLC lifted its position in Freshpet by 143.0% during 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. Parallel Advisors LLC grew its stake in shares of Freshpet by 55.0% in the 3rd 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Freshpet by 445.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after purchasing an additional 432 shares during the last quarter.

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.