Freshpet (NASDAQ:FRPT) Shares Gap Up – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $100.28, but opened at $106.28. Freshpet shares last traded at $104.21, with a volume of 406,260 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on FRPT. Piper Sandler cut their target price on Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Citigroup lowered their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and lowered their target price for the stock from $155.00 to $150.00 in a report on Monday. Finally, TD Cowen boosted their price target on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Stock Performance

The stock has a 50 day moving average of $143.97 and a 200 day moving average of $142.83. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 114.27 and a beta of 1.42. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Lecap Asset Management Ltd. bought a new stake in Freshpet during the 4th quarter worth approximately $817,000. Geode Capital Management LLC grew its stake in shares of Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after acquiring an additional 37,287 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Freshpet in the 3rd quarter valued at about $1,465,000. Geneva Capital Management LLC lifted its holdings in Freshpet by 166.2% during the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after acquiring an additional 52,584 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after buying an additional 253,679 shares during 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.