Freshpet (NASDAQ:FRPT) Price Target Lowered to $142.00 at Citigroup

Freshpet (NASDAQ:FRPT) had its price objective dropped by Citigroup from $155.00 to $142.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 8.60% from the stock’s previous close.

Several other equities research analysts also recently weighed in on FRPT. Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. Truist Financial lifted their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Oppenheimer lifted their price objective on shares of Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. TD Cowen lifted their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, DA Davidson lifted their price objective on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $164.29.

Freshpet Trading Up 0.3 %

FRPT opened at $130.75 on Wednesday. Freshpet has a 1-year low of $84.02 and a 1-year high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.35 billion, a P/E ratio of 146.91 and a beta of 1.42. The company has a fifty day moving average price of $149.75 and a two-hundred day moving average price of $143.07.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the sale, the president now owns 122,380 shares of the company’s stock, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently modified their holdings of the business. WCM Investment Management LLC increased its holdings in Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after acquiring an additional 2,445,199 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Freshpet by 198.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after acquiring an additional 253,679 shares during the period. Point72 Asset Management L.P. increased its holdings in Freshpet by 391.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after acquiring an additional 186,889 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after acquiring an additional 154,909 shares during the period. Finally, Sei Investments Co. grew its stake in Freshpet by 46.1% in the 4th quarter. Sei Investments Co. now owns 314,705 shares of the company’s stock worth $46,610,000 after buying an additional 99,241 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.