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

Freshpet (NASDAQ:FRPT) had its price target dropped by research analysts at Citigroup from $155.00 to $142.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 8.60% from the company’s previous close.

Several other brokerages have also issued reports on FRPT. DA Davidson boosted their target price on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Oppenheimer boosted their target price on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Truist Financial upped their price target on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $164.29.

Freshpet Stock Performance

Shares of FRPT stock opened at $130.75 on Wednesday. Freshpet has a one year low of $84.02 and a one year high of $164.07. The company’s 50-day moving average is $149.75 and its 200 day moving average is $143.07. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 146.91 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Insider Activity at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at $19,260,164.40. The trade was a 3.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. Lecap Asset Management Ltd. purchased a new stake in Freshpet in the fourth quarter valued at approximately $817,000. Geode Capital Management LLC raised its stake in shares of Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Freshpet in the third quarter worth $1,465,000. Geneva Capital Management LLC raised its position in Freshpet by 166.2% in the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after acquiring an additional 52,584 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Freshpet by 54.4% in the third 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 in the last quarter.

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.