Freshpet, Inc. (NASDAQ:FRPT) Short Interest Down 5.4% in May

Freshpet, Inc. (NASDAQ:FRPTGet Free Report) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 5,650,000 shares, a drop of 5.4% from the April 30th total of 5,970,000 shares. Based on an average daily volume of 667,700 shares, the days-to-cover ratio is currently 8.5 days.

Wall Street Analyst Weigh In

FRPT has been the topic of a number of recent analyst reports. TD Cowen increased their target price on shares of Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Redburn Atlantic raised shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Thursday, May 23rd. Robert W. Baird increased their target price on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Freshpet has an average rating of “Moderate Buy” and an average target price of $124.63.

Read Our Latest Research Report on FRPT

Freshpet Stock Up 0.3 %

Shares of NASDAQ:FRPT opened at $131.57 on Tuesday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 730.99 and a beta of 1.33. The firm’s 50-day simple moving average is $116.94 and its 200-day simple moving average is $98.72. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet has a fifty-two week low of $54.60 and a fifty-two week high of $132.84.

Freshpet (NASDAQ:FRPTGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The firm had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. As a group, equities research analysts predict that Freshpet will post 0.43 earnings per share for the current year.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 1,012 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total value of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $10,377,163.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Stephen Macchiaverna sold 1,012 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total value of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $10,377,163.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott James Morris sold 3,632 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,444,666.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,192 shares of company stock worth $1,307,811. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after buying an additional 132 shares during the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in Freshpet in the first quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new stake in Freshpet during the fourth quarter worth approximately $29,000. Whittier Trust Co. purchased a new stake in Freshpet during the first quarter worth approximately $41,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Freshpet during the third quarter worth $28,000.

About Freshpet

(Get Free Report)

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.

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