Freshpet Inc (NASDAQ:FRPT) – Analysts at Oppenheimer dropped their FY2019 earnings per share (EPS) estimates for Freshpet in a research note issued to investors on Wednesday, February 12th. Oppenheimer analyst R. Parikh now expects that the company will post earnings of $0.04 per share for the year, down from their previous forecast of $0.05. Oppenheimer also issued estimates for Freshpet’s Q4 2019 earnings at $0.20 EPS, FY2022 earnings at $0.94 EPS, FY2023 earnings at $1.57 EPS and FY2024 earnings at $2.26 EPS.
Other analysts have also issued reports about the company. BidaskClub raised Freshpet from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. William Blair reissued a “buy” rating on shares of Freshpet in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on Freshpet from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on Freshpet from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Credit Suisse Group lifted their price target on Freshpet from $58.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.75.
A number of institutional investors and hedge funds have recently modified their holdings of FRPT. FTB Advisors Inc. lifted its stake in Freshpet by 85.1% in the third quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock valued at $26,000 after buying an additional 240 shares during the period. Cutler Group LP lifted its stake in Freshpet by 287.4% in the fourth quarter. Cutler Group LP now owns 674 shares of the company’s stock valued at $39,000 after buying an additional 500 shares during the period. Capital Wealth Alliance LLC acquired a new position in Freshpet in the fourth quarter valued at approximately $39,000. Point72 Asset Management L.P. acquired a new position in Freshpet in the fourth quarter valued at approximately $96,000. Finally, Great West Life Assurance Co. Can acquired a new position in Freshpet in the fourth quarter valued at approximately $128,000.
In related news, EVP Stephen Weise sold 4,000 shares of Freshpet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $53.96, for a total value of $215,840.00. Following the transaction, the executive vice president now directly owns 4,000 shares of the company’s stock, valued at $215,840. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Scott James Morris sold 1,175 shares of Freshpet stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $57.75, for a total value of $67,856.25. Following the completion of the transaction, the chief operating officer now directly owns 161,623 shares in the company, valued at $9,333,728.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,175 shares of company stock worth $558,696. 4.90% of the stock is owned by insiders.
Freshpet Company Profile
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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