Freshpet (NASDAQ:FRPT) CEO William Cyr Sells 41,022 Shares

Key Points

• CEO William Cyr sold 41,022 Freshpet shares at an average price of $72.86, generating approximately $2.99 million and reducing his stake by 13.31% to 267,152 shares.
• Freshpet shares rose 3.3% to $75.03, while the company’s latest quarterly results exceeded expectations: EPS was $0.39 versus a $0.22 consensus estimate, and revenue increased 15.4% year over year to $305.59 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $75.31, although several firms recently lowered their targets; institutional investors including Vanguard, Wellington, and Wasatch increased their holdings.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) CEO William Cyr sold 41,022 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $72.86, for a total transaction of $2,988,862.92. Following the transaction, the chief executive officer owned 267,152 shares of the company's stock, valued at $19,464,694.72. This trade represents a 13.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Freshpet Trading Up 3.3%

NASDAQ:FRPT traded up $2.40 on Wednesday, hitting $75.03. 1,345,979 shares of the stock were exchanged, compared to its average volume of 1,503,989. The company has a current ratio of 6.05, a quick ratio of 5.03 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The stock has a fifty day moving average of $59.23 and a 200-day moving average of $62.63. The stock has a market cap of $3.69 billion, a PE ratio of 19.74 and a beta of 1.61.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The firm had revenue of $305.59 million during the quarter, compared to analysts' expectations of $292.35 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company's revenue was up 15.4% on a year-over-year basis. As a group, equities analysts expect that Freshpet, Inc. will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshpet

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Freshpet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company's stock worth $321,822,000 after acquiring an additional 128,499 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Freshpet by 5.2% during the first quarter. Wasatch Advisors LP now owns 4,141,437 shares of the company's stock worth $244,179,000 after buying an additional 204,128 shares during the period. Wellington Management Group LLP increased its holdings in Freshpet by 11.8% in the 2nd quarter. Wellington Management Group LLP now owns 2,829,688 shares of the company's stock worth $167,291,000 after buying an additional 298,460 shares during the period. William Blair Investment Management LLC increased its stake in shares of Freshpet by 30.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company's stock worth $118,982,000 after purchasing an additional 461,444 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Freshpet by 7.1% in the 4th quarter. Capital World Investors now owns 1,587,691 shares of the company's stock valued at $96,738,000 after purchasing an additional 104,913 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $70.00 price objective on shares of Freshpet in a report on Thursday, August 6th. DA Davidson cut their price objective on shares of Freshpet from $101.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Wells Fargo & Company reduced their price target on shares of Freshpet from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. TD Cowen increased their price objective on Freshpet from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Bank of America dropped their price objective on Freshpet from $75.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source