Wells Fargo & Company Boosts Freshpet (NASDAQ:FRPT) Price Target to $145.00

Freshpet (NASDAQ:FRPT) had its target price increased by Wells Fargo & Company from $140.00 to $145.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. Oppenheimer increased their price target on Freshpet from $135.00 to $155.00 and gave the stock an outperform rating in a report on Tuesday, June 25th. TD Cowen increased their target price on Freshpet from $128.00 to $143.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Redburn Atlantic raised shares of Freshpet from a neutral rating to a buy rating and set a $168.00 price target for the company in a research report on Thursday, May 23rd. Benchmark upped their price objective on shares of Freshpet from $125.00 to $150.00 and gave the stock a buy rating in a report on Tuesday, June 11th. Finally, Robert W. Baird lifted their price objective on shares of Freshpet from $125.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $131.71.

Freshpet Stock Performance

NASDAQ:FRPT opened at $127.47 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet has a twelve month low of $54.60 and a twelve month high of $136.35. The company has a fifty day moving average of $128.03 and a 200-day moving average of $109.21. The firm has a market capitalization of $6.17 billion, a P/E ratio of 708.21 and a beta of 1.36.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The business had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. As a group, sell-side analysts anticipate that Freshpet will post 0.54 EPS for the current year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total transaction of $792,780.00. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $11,368,333.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 13,560 shares of company stock worth $1,701,580 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Freshpet in the fourth quarter valued at $40,327,000. Jennison Associates LLC raised its stake in Freshpet by 36.6% in the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 shares during the period. Victory Capital Management Inc. lifted its holdings in Freshpet by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after purchasing an additional 234,836 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in Freshpet by 3,434.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after purchasing an additional 219,913 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Freshpet by 5.5% in the third quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after purchasing an additional 185,210 shares in the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.