BEDMINSTER, NJ—Morris Scott James, the President of Freshpet, Inc. (NASDAQ:FRPT), recently sold 5,000 shares of the company's common stock. The shares were sold at a weighted average price of $157.38, resulting in a total transaction value of $786,900. This transaction was part of a series of sales executed on December 4, 2024, as disclosed in a recent SEC filing. The sale comes as Freshpet's stock has delivered an impressive 113% return over the past year, trading near its 52-week high of $160.91.
Alongside the sale, James also exercised options to acquire 5,000 shares at a price of $8.90 per share. The options were part of Freshpet's 2014 Omnibus Incentive Plan and had vested on December 31, 2020. According to InvestingPro analysis, the company currently trades at premium valuation multiples, reflecting strong investor confidence in its growth prospects.
Following these transactions, James holds 122,380 shares of Freshpet's common stock. Freshpet, Inc., based in Bedminster, New Jersey, is known for its production of fresh, refrigerated pet food. The company has demonstrated robust growth with revenue increasing 29% in the last twelve months, while maintaining strong financial health with a current ratio of 4.7x.
In other recent news, Freshpet has been the focus of numerous analyst reviews following its third-quarter financial performance, which surpassed expectations in both sales and adjusted EBITDA. Stifel has increased its price target for Freshpet shares to $165, citing the company's raised sales and adjusted EBITDA forecasts for 2024. The company's household penetration grew by 17% year-over-year and 26% growth was noted in Hippohs, a key product line.
TD Cowen has raised its price target to $174, showing confidence in Freshpet's growth trajectory. The company's third-quarter "beat-and-raise" was a solid indication of its potential to outperform its 2027 long-term goals. Benchmark raised its price target for Freshpet shares to $185, following the company's robust sales and margin improvement.
Baird upgraded the stock price target for Freshpet to $170, highlighting the company's consistent top-line growth and gains in efficiency. The company's expected free cash flow generation by the fiscal year 2026 and no need for additional capital in the coming year were noted. Lastly, Jefferies maintained a Hold rating while raising its price target to $162, emphasizing Freshpet's robust operational strategy. These are recent developments that highlight Freshpet's commitment to long-term growth and operational excellence.
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