Morgan Stanley has initiated coverage on Freshpet Inc (FRPT) with an Equal-Weight rating, marking the firm's first assessment of the company. This rating reflects Morgan Stanley's analysis of Freshpet's business and the broader food products industry in which it operates.
Headquartered in Bedminster, New Jersey, Freshpet engages in the manufacturing, marketing, and distribution of pet food and treats for dogs and cats. The company, which went public on November 7, 2014, has a market capitalization of $3.1 billion and reported a price-to-earnings ratio of 25.24, with earnings per share of $2.24 as of December 11, 2025.
Freshpet's product offerings adhere to a nutritional philosophy of fresh, meat-based nutrition, and minimal processing. Its products are sold under the Freshpet brand, as well as the Dognation and Dog Joy labels, through a network of branded refrigerators across various retail channels, including grocery, mass, and pet specialty stores.
Upcoming earnings reports are anticipated, with estimates suggesting earnings per share of $0.33 on revenue of $299.0 million for August 3, 2026, and $0.19 on revenue of $294.1 million for May 4, 2026.
Analyst ratings and price targets are based on extensive research and financial models. While they can offer valuable insights, they are ultimately projections that may not come to fruition. Investors should consider a variety of factors, including company fundamentals and market conditions, when making decisions. Analyst opinions can evolve as new information becomes available, and differing views may exist among analysts regarding the same company.