(FRPT) - https://www.fool.com/investing/2020/12/06/3-stocks-that-can-double-again-in-2021/
It's a not a surprise to see Freshpet shares up 128% in 2020 through Friday's close. Freshpet has the supermarket cornered in the realm of refrigerated food for dogs and cats
with 22,371 branded fridges in its growing network. The COVID-19 crisis has resulted in an understandable spike in pet adoptions, and we're pampering our dogs and cats more than ever.
Freshpet is at the intersection of all of these favorable headwinds. The humanization of pets that finds us wanting to feed our furry friends more than dry kibble is a dinner bell for Freshpet's refrigerators across grocery stores, warehouse clubs, and mass market superstores. Net sales rose 29%
in its latest quarter.
Demand for Freshpet's products is so strong that it had to scale back its advertising budget to make sure that its existing production can keep up with demand from existing clients. It's building out a new facility that will more than double its production by the middle of 2022
. There are plenty of "stay-at-home" stocks that will slip in popularity once we're out and about more often, but Freshpet won't be one of them. We're not going to stop spoiling our pets when hunger pains strike.
, Inc. (FRPT) manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online. Freshpet, Inc. was incorporated in 2004 and is headquartered in Secaucus, New Jersey. <<<