Freshpet (NASDAQ:FRPT) Stock Price Down 4.6% – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT) shares dropped 4.6% during mid-day trading on Friday . The company traded as low as $62.61 and last traded at $62.5950. Approximately 568,234 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 1,381,795 shares. The stock had previously closed at $65.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Freshpet from $88.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Monday, December 15th. Stifel Nicolaus dropped their price objective on shares of Freshpet from $90.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. DA Davidson reduced their target price on shares of Freshpet from $101.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, Truist Financial decreased their price target on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Freshpet currently has an average rating of “Hold” and an average target price of $82.63.

Freshpet Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The stock’s 50-day moving average price is $56.61 and its 200-day moving average price is $61.15. The company has a market cap of $3.06 billion, a P/E ratio of 27.34, a PEG ratio of 0.84 and a beta of 1.72.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $1.43. The business had revenue of $288.85 million for the quarter, compared to analyst estimates of $283.73 million. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. Freshpet’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. Equities analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the sale, the president directly owned 30,858 shares in the company, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its holdings in Freshpet by 41.0% in the 2nd quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock valued at $260,921,000 after acquiring an additional 1,116,217 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Freshpet by 41.5% in the second quarter. Champlain Investment Partners LLC now owns 2,568,954 shares of the company’s stock worth $174,586,000 after purchasing an additional 753,070 shares during the period. William Blair Investment Management LLC raised its stake in Freshpet by 20.6% in the second quarter. William Blair Investment Management LLC now owns 1,527,068 shares of the company’s stock valued at $103,780,000 after purchasing an additional 260,868 shares in the last quarter. Capital World Investors lifted its position in Freshpet by 151.8% during the third quarter. Capital World Investors now owns 1,482,778 shares of the company’s stock worth $81,716,000 after purchasing an additional 893,949 shares during the period. Finally, Riverbridge Partners LLC grew its stake in Freshpet by 23.2% during the second quarter. Riverbridge Partners LLC now owns 1,264,959 shares of the company’s stock worth $85,967,000 after buying an additional 238,130 shares in the last quarter.

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.