Freshpet (NASDAQ:FRPT) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research note published on Saturday morning.

FRPT has been the topic of several other research reports. Jefferies Financial Group reduced their price target on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. DA Davidson upgraded shares of Freshpet to a “strong-buy” rating in a research report on Monday, July 6th. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $63.00 target price on shares of Freshpet in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.25.

Freshpet Stock Up 1.6%

Shares of FRPT opened at $57.54 on Friday. 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 stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 15.39 and a beta of 1.60. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. The business’s 50 day simple moving average is $53.72 and its 200-day simple moving average is $62.60.

Insider Buying and Selling at Freshpet

In related news, CEO William B. Cyr sold 42,907 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 4,211 shares of company stock worth $215,027 and sold 235,262 shares worth $11,664,591. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Optimize Financial Inc lifted its holdings in shares of Freshpet by 1.4% in the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock valued at $668,000 after buying an additional 156 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Freshpet by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock worth $680,000 after buying an additional 161 shares during the last quarter. Parallel Advisors LLC grew its holdings in Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after acquiring an additional 197 shares during the period. Smartleaf Asset Management LLC grew its holdings in Freshpet by 32.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 882 shares of the company’s stock worth $53,000 after acquiring an additional 214 shares during the period. Finally, Ossiam raised its position in Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after acquiring an additional 228 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.