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

Freshpet (NASDAQ:FRPT) had its price target hoisted by equities researchers at Wells Fargo & Company from $140.00 to $145.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.12% from the company’s current price.

FRPT has been the subject of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research note on Tuesday, July 2nd. Redburn Atlantic upgraded 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. Stifel Nicolaus lifted their price objective on shares of Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Freshpet in a report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 target price for the company. Finally, StockNews.com raised Freshpet to a “sell” rating in a research report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.56.

Freshpet Price Performance

NASDAQ:FRPT traded down $5.63 during trading hours on Wednesday, reaching $123.80. 278,510 shares of the company’s stock were exchanged, compared to its average volume of 599,230. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.00 billion, a P/E ratio of 688.76 and a beta of 1.36. Freshpet has a 12 month low of $54.60 and a 12 month high of $136.35. The business’s 50-day simple moving average is $126.94 and its two-hundred day simple moving average is $108.69.

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

Insider Buying and Selling at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $11,368,333.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 13,560 shares of company stock worth $1,701,580 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRPT. GAMMA Investing LLC grew its holdings in Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. CWM LLC raised its holdings in Freshpet by 65.9% in the 2nd quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after acquiring an additional 197 shares during the period. Diversified Trust Co raised its holdings in Freshpet by 1.4% in the 1st quarter. Diversified Trust Co now owns 21,171 shares of the company’s stock worth $2,453,000 after acquiring an additional 287 shares during the period. Blue Bell Private Wealth Management LLC bought a new stake in Freshpet during the first quarter valued at about $36,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Freshpet in the fourth quarter valued at about $29,000.

About Freshpet

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.