Sen. Markwayne Mullin Sells Freshpet, Inc. (NASDAQ:FRPT) Shares

Senator Markwayne Mullin (R-Oklahoma) recently sold shares of Freshpet, Inc. (NASDAQ:FRPT). In a filing disclosed on December 31st, the Senator disclosed that they had sold between $15,001 and $50,000 in Freshpet stock on December 18th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Axon Enterprise (NASDAQ:AXON) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Sprouts Farmers Market (NASDAQ:SFM) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Badger Meter (NYSE:BMI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of e.l.f. Beauty (NYSE:ELF) on 12/18/2024.

Freshpet Stock Down 0.9 %

Shares of Freshpet stock opened at $148.11 on Wednesday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $148.01 and a 200 day moving average price of $137.81. Freshpet, Inc. has a fifty-two week low of $82.16 and a fifty-two week high of $160.91. The firm has a market cap of $7.19 billion, a P/E ratio of 166.42 and a beta of 1.41.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, sell-side analysts forecast that Freshpet, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRPT. Wilmington Savings Fund Society FSB bought a new position in shares of Freshpet in the third quarter valued at approximately $32,000. Sanctuary Advisors LLC acquired a new position in Freshpet during the 3rd quarter worth $351,000. Virtu Financial LLC bought a new stake in Freshpet during the third quarter valued at about $226,000. Geode Capital Management LLC grew its position in shares of Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Freshpet by 8.8% in the third quarter. M&T Bank Corp now owns 2,183 shares of the company’s stock worth $299,000 after purchasing an additional 177 shares during the period.

Insider Buying and Selling

In related news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total transaction of $790,650.00. Following the transaction, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,500 shares of company stock valued at $1,962,175. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer increased their price target on Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. Truist Financial raised their target price on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen raised their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.36.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.