Insider Monkey recently published an article enumerating the best pet stocks. The pet industry is by no means a small market; it is valued at $4.5 billion and is expected to grow over $20 billion. The industry has various products such as goods, clothing, grooming, and other similar commodities.
Here is a summary of the 10 Best Pet Stocks To Buy Now, which mainly focused on pet food, medical, and health equipment for them.
Food
The first would be from Freshpet, Inc., a pet food company. Their shares jumped by 128% over the last twelve months, and it was reported that the company had net sales of $84.5 million. Another pet food company would be JM Smucker Co. In Q1 of 2020, they had the highest net sales at 38% and total revenue of $101.4 million. It was said that the increase was driven by the company’s growth in domestic and international retail markets.
Chewy Inc. is an online retailer of pet food. PetSmart purchased it in 2017, but it recently withdrew, which downgraded the stock prices. General Mills Inc, known for Cheerios and Haagen-Dazs brands, also had a pet product business when it acquired Buffalo Pet Products. In 2020, their net sales increased by 21%, amounting to almost $5 billion.
Tractor Supply is a company that specializes in farm products, but as of recently, they also have a physical and e-commerce that sells pet food. TSCO offers a dividend yield of 1.30%. IDEXX Laboratories, Inc. distributes products and services to veterinary clinics. Their shares increased by 93% over the past twelve months and have a 19% growth in revenue.
Maintenance
Elanco Animal Health, Inc. operates an innovative and product and solution company that aims to enhance animal health. Their shares increased by 32% over the last twelve months and reported a 44% increase in revenue amounting to $1.1 billion. Colgate-Palmolive Co also officers a variety of pet nutrition products. In Q4 of 2020, net sales increased by 7.5% due to their increase in digital advertising and e-commerce sites.
Animal health company Zoetis, Inc. recorded an increase in their revenue by 8%, valued at $1.8 billion. Another animal health company would be Merck which offers vaccines and medicine for animals. They reported sales of $4.7 billion in 2020.
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