Freshpet (NASDAQ:FRPT) Stock Price Up 6.5% – Should You Buy?

Freshpet, Inc. (NASDAQ:FRPT) shares traded up 6.5% on Friday . The company traded as high as $55.91 and last traded at $56.8280. 91,988 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,514,886 shares. The stock had previously closed at $53.38.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating and issued a $77.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, March 20th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a report on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.88.

Freshpet Stock Performance

The company has a market capitalization of $2.82 billion, a P/E ratio of 15.36 and a beta of 1.63. 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 fifty day moving average price of $55.25 and a two-hundred day moving average price of $63.55.

Insider Transactions at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FRPT. JANA Partners Management LP increased its position in Freshpet by 4.1% during the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after purchasing an additional 41,373 shares during the period. Vanguard Group Inc. raised its holdings 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 purchasing an additional 128,499 shares during the last quarter. William Blair Investment Management LLC raised 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 purchasing an additional 461,444 shares during the last quarter. Deepwater Asset Management LLC lifted its position in shares of Freshpet by 14.3% in the 3rd quarter. Deepwater Asset Management LLC now owns 190,301 shares of the company’s stock worth $10,487,000 after purchasing an additional 23,768 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of Freshpet by 100.0% in the 4th 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 period.

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.