Insider Selling: Freshpet (NASDAQ:FRPT) CEO Sells 37,007 Shares of Stock

Key Points

• Freshpet CEO William Cyr sold 37,007 shares at an average price of $74.67, generating approximately $2.76 million and reducing his direct ownership by 9.54% to 350,744 shares.
• Freshpet shares fell 2.7% to $70.82, while the company’s latest quarter exceeded expectations: earnings were $0.39 per share versus $0.22 expected, and revenue rose 15.4% year over year to $305.59 million.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $75.31, although individual targets range from $70 to $78.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) CEO William Cyr sold 37,007 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $74.67, for a total value of $2,763,312.69. Following the transaction, the chief executive officer directly owned 350,744 shares of the company's stock, valued at $26,190,054.48. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Freshpet Stock Down 2.7%

FRPT traded down $1.96 during trading hours on Friday, hitting $70.82. 1,118,487 shares of the company's stock were exchanged, compared to its average volume of 1,489,577. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00. The stock's 50-day moving average is $62.13 and its two-hundred day moving average is $62.89. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 18.64 and a beta of 1.61. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating 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 the consensus estimate of $292.35 million. During the same period last year, the company earned $0.33 earnings per share. The business's revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Freshpet, Inc. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley restated an "equal weight" rating and set a $72.00 price objective (down from $77.00) on shares of Freshpet in a research note on Thursday, August 6th. Wall Street Zen raised Freshpet from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Stifel Nicolaus raised their price target on Freshpet from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company dropped their price target on Freshpet from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $70.00 price objective on shares of Freshpet in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $75.31.

Institutional Trading of Freshpet

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 buying an additional 128,499 shares during the period. William Blair Investment Management LLC grew its holdings in Freshpet by 30.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company's stock worth $118,982,000 after acquiring an additional 461,444 shares during the last quarter. California State Teachers Retirement System increased its position in Freshpet by 27.2% in the 1st quarter. California State Teachers Retirement System now owns 59,465 shares of the company's stock valued at $3,506,000 after acquiring an additional 12,732 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Freshpet by 107.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,584 shares of the company's stock valued at $11,795,000 after acquiring an additional 100,260 shares during the period. Finally, Fortis Group Advisors LLC bought a new position in shares of Freshpet during the fourth quarter valued at $1,722,000.

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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