Freshpet (NASDAQ:FRPT) Price Target Raised to $140.00 at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its target price lifted by Wells Fargo & Company from $124.00 to $140.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.55% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Robert W. Baird upped their price target on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Piper Sandler raised their price objective on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. DA Davidson increased their price target on shares of Freshpet from $138.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $135.00 in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.93.

Freshpet Stock Up 1.9 %

Shares of FRPT traded up $2.26 during trading hours on Tuesday, hitting $123.29. The company had a trading volume of 462,568 shares, compared to its average volume of 618,613. The company’s fifty day moving average price is $110.42 and its two-hundred day moving average price is $89.54. Freshpet has a one year low of $54.60 and a one year high of $127.25. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.97 billion, a PE ratio of -173.83 and a beta of 1.24.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The business had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The company’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. As a group, equities analysts forecast that Freshpet will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, COO Scott James Morris sold 3,632 shares of Freshpet stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $109.86, for a total value of $399,011.52. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,444,666.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the sale, the executive vice president now owns 85,056 shares of the company’s stock, valued at approximately $9,231,127.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott James Morris sold 3,632 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $109.86, for a total value of $399,011.52. Following the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at $13,444,666.80. The disclosure for this sale can be found here. Insiders sold a total of 15,762 shares of company stock worth $1,737,280 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JANA Partners Management LP acquired a new position in shares of Freshpet during the 3rd quarter worth about $214,405,000. Norges Bank purchased a new position in shares of Freshpet in the 4th quarter valued at $40,327,000. Lord Abbett & CO. LLC acquired a new stake in Freshpet during the 3rd quarter worth $28,044,000. Jennison Associates LLC lifted its position in Freshpet by 36.6% in the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Freshpet by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after acquiring an additional 234,836 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.