Freshpet (NASDAQ:FRPT) Issues Earnings Results

Freshpet (NASDAQ:FRPT) issued its quarterly earnings results on Monday. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21, FiscalAI reports. The company had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $74.51 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.78 and a beta of 1.72. The firm’s 50 day simple moving average is $66.55 and its 200-day simple moving average is $59.52. Freshpet has a 12 month low of $46.76 and a 12 month high of $111.62.

Insider Activity

In related news, President Scott James Morris sold 5,142 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the sale, the president directly owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently modified their holdings of the business. Motiv8 Investments LLC acquired a new stake in Freshpet in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC grew its stake in Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after acquiring an additional 197 shares during the period. State of Wyoming purchased a new stake in Freshpet in the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares in the last quarter. Finally, Ossiam raised its position in Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on FRPT shares. Zacks Research raised Freshpet from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Bank of America raised their price target on shares of Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Wells Fargo & Company lifted their price objective on shares of Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Piper Sandler upped their price objective on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Finally, UBS Group set a $48.00 target price on shares of Freshpet and gave the stock a “sell” rating in a report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.60.

About Freshpet

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.