Stifel Nicolaus Raises Freshpet (NASDAQ:FRPT) Price Target to $135.00

Freshpet (NASDAQ:FRPT) had its target price raised by analysts at Stifel Nicolaus from $115.00 to $135.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 24.32% from the stock’s current price.

FRPT has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Jefferies Financial Group began coverage on shares of Freshpet in a report on Tuesday, December 19th. They set a “hold” rating and a $80.00 price objective on the stock. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $135.00 in a report on Monday, March 11th. DA Davidson boosted their price objective on shares of Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, TheStreet raised shares of Freshpet from a “d+” rating to a “c-” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.36.

Freshpet Stock Down 3.5 %

Shares of NASDAQ:FRPT opened at $108.59 on Thursday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -152.94 and a beta of 1.23. The firm’s 50-day simple moving average is $105.09 and its 200-day simple moving average is $84.31. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. Freshpet has a fifty-two week low of $54.60 and a fifty-two week high of $117.76.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. As a group, equities research analysts predict that Freshpet will post 0.1 earnings per share for the current year.

Insider Activity at Freshpet

In related news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at $13,709,007.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,709,007.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,762 shares of company stock valued at $1,737,280. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Freshpet by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,652,698 shares of the company’s stock valued at $403,668,000 after buying an additional 32,178 shares during the period. Wellington Management Group LLP raised its stake in Freshpet by 5.5% during the third quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after purchasing an additional 185,210 shares during the period. Wasatch Advisors Inc. raised its stake in Freshpet by 5.2% during the first quarter. Wasatch Advisors Inc. now owns 3,479,089 shares of the company’s stock worth $357,094,000 after purchasing an additional 170,766 shares during the period. JANA Partners Management LP purchased a new position in Freshpet during the third quarter worth approximately $214,405,000. Finally, William Blair Investment Management LLC raised its stake in Freshpet by 4.2% during the third quarter. William Blair Investment Management LLC now owns 2,740,708 shares of the company’s stock worth $180,558,000 after purchasing an additional 110,383 shares during the period.

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.