Freshpet (NASDAQ:FRPT) CEO William Cyr Sells 40,965 Shares of Stock

Key Points

• Freshpet CEO William Cyr sold 40,965 shares at an average price of $75.98, generating approximately $3.11 million and reducing his stake by 11% to 331,309 shares.
• Freshpet reported stronger-than-expected quarterly results, with EPS of $0.39 versus the $0.22 consensus estimate and revenue of $305.59 million, up 15.4% year over year.
• FRPT traded near $75.40, while analysts maintained an overall “Moderate Buy” rating with an average price target of $75.31; institutional investors also increased several positions.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) CEO William Cyr sold 40,965 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $75.98, for a total transaction of $3,112,520.70. Following the sale, the chief executive officer owned 331,309 shares of the company's stock, valued at approximately $25,172,857.82. This represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Freshpet Price Performance

NASDAQ:FRPT traded down $1.15 during trading hours on Tuesday, hitting $75.40. The company's stock had a trading volume of 987,101 shares, compared to its average volume of 1,496,928. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 6.05. The business's 50-day moving average is $61.02 and its two-hundred day moving average is $62.77. Freshpet, Inc. has a 52-week low of $46.45 and a 52-week high of $86.00. The company has a market capitalization of $3.71 billion, a PE ratio of 19.84 and a beta of 1.61.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FRPT. Royal Bank of Canada raised its position in shares of Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company's stock valued at $5,624,000 after purchasing an additional 31,334 shares during the period. Jones Financial Companies Lllp grew its stake in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after buying an additional 1,593 shares during the last quarter. United Services Automobile Association bought a new position in Freshpet in the 1st quarter worth $247,000. EverSource Wealth Advisors LLC lifted its position in Freshpet by 1,388.2% during 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 during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in Freshpet by 140.3% during the second quarter. Cresset Asset Management LLC now owns 6,296 shares of the company's stock valued at $428,000 after acquiring an additional 3,676 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FRPT. Bank of America decreased their price target on Freshpet from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $70.00 price objective on shares of Freshpet in a research note on Thursday, August 6th. Benchmark reissued a "buy" rating on shares of Freshpet in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Freshpet from $68.00 to $72.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.31.

Freshpet Company Profile

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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