Freshpet (NASDAQ:FRPT) Trading Up 1.4% – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT)’s share price traded up 1.4% during mid-day trading on Wednesday . The stock traded as high as $87.00 and last traded at $86.32. 179,899 shares traded hands during trading, a decline of 74% from the average session volume of 691,702 shares. The stock had previously closed at $85.09.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FRPT shares. Wells Fargo & Company reduced their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus decreased their target price on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Truist Financial reiterated a “buy” rating and set a $140.00 target price (down previously from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and decreased their price objective for the company from $155.00 to $150.00 in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.67.

Freshpet Trading Down 0.1 %

The company has a market capitalization of $4.21 billion, a PE ratio of 92.01 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The firm’s 50 day moving average is $125.96 and its 200 day moving average is $137.87.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, equities analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

A number of large investors have recently modified their holdings of FRPT. Norges Bank bought a new position in shares of Freshpet in the 4th quarter worth approximately $75,253,000. Allspring Global Investments Holdings LLC raised its holdings in Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after purchasing an additional 253,679 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after buying an additional 186,889 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after buying an additional 154,909 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Freshpet by 267.0% in the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock worth $23,045,000 after acquiring an additional 113,200 shares in the last quarter.

Freshpet Company Profile

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.