Freshpet (NASDAQ:FRPT) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Freshpet from “sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $74.50.
• Analyst views remain mixed: JPMorgan raised its target to $72 with an “overweight” rating, while Jefferies and Bank of America lowered their targets to $70 and maintained “hold” or “neutral” ratings.
• Freshpet shares opened at $59.54, with a 52-week range of $46.45 to $86.00; insiders have been net sellers over the past 90 days, selling about $11.7 million in stock versus roughly $215,000 purchased.

Freshpet (NASDAQ:FRPT - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Freshpet from $75.00 to $70.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Stifel Nicolaus set a $66.00 target price on Freshpet in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on Freshpet from $68.00 to $72.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Piper Sandler reaffirmed an "overweight" rating on shares of Freshpet in a research note on Monday, June 15th. Finally, Bank of America dropped their target price on shares of Freshpet from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of "Moderate Buy" and an average price target of $74.50.

Freshpet Price Performance

FRPT opened at $59.54 on Friday. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60. The firm's fifty day moving average price is $54.84 and its two-hundred day moving average price is $62.55.

Insider Buying and Selling at Freshpet

In related news, CEO William B. Cyr sold 42,907 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the transaction, the chief executive officer directly owned 204,585 shares of the company's stock, valued at approximately $9,803,713.20. This trade represents a 17.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders bought 4,211 shares of company stock worth $215,027 and sold 235,262 shares worth $11,664,591. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Freshpet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company's stock valued at $321,822,000 after purchasing an additional 128,499 shares during the last quarter. William Blair Investment Management LLC raised its position in Freshpet by 30.9% in the 4th 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 during the period. Impax Asset Management Group plc lifted its stake in Freshpet by 100.0% in the fourth quarter. Impax Asset Management Group plc now owns 140,000 shares of the company's stock worth $8,530,000 after purchasing an additional 70,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Freshpet by 107.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,584 shares of the company's stock worth $11,795,000 after purchasing an additional 100,260 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new stake in Freshpet during the fourth quarter valued at about $1,722,000.

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.

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