Freshpet (NASDAQ:FRPT) Sees Large Volume Increase – What’s Next?

Shares of Freshpet, Inc. (NASDAQ:FRPT) saw unusually-strong trading volume on Monday . Approximately 300,025 shares traded hands during trading, a decline of 48% from the previous session’s volume of 572,506 shares.The stock last traded at $143.50 and had previously closed at $133.69.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FRPT shares. Robert W. Baird increased their price objective on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Benchmark reiterated a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research report on Friday. Truist Financial increased their price objective on Freshpet from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America increased their price objective on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus increased their target price on Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $145.87.

Freshpet Stock Up 11.6 %

The firm has a 50 day moving average of $137.58 and a two-hundred day moving average of $128.97. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 286.05 and a beta of 1.39. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. Freshpet’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Freshpet by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after acquiring an additional 13,709 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Freshpet by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock worth $119,492,000 after purchasing an additional 22,759 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Freshpet by 24.4% in the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock worth $93,327,000 after purchasing an additional 141,615 shares in the last quarter. Sei Investments Co. increased its holdings in Freshpet by 4.4% in the first quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after purchasing an additional 10,456 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Freshpet by 38.2% in the third quarter. TimesSquare Capital Management LLC now owns 199,592 shares of the company’s stock worth $27,298,000 after purchasing an additional 55,200 shares in the last quarter.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.