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Dear Fellow Investor,
Spending on pet care is only set to increase.
Just last year, for example, pet-related expenses soared to $147 billion, according to the American Pet Products Association. From there, the pet group says pet spending should have a solid year over year growth rate through 2030.
"The data has shown that the pet industry has remained incredibly strong since 2009 despite wide-scale economic challenges. While there are signs of slowing, the industry is resilient, especially compared to other industries," said APPA President and CEO Peter Scott. "In fact, we forecast the industry's expenditures to top $250 billion by 2030."
That being said, investors may want to keep an eye on stocks such as:
Company: Chewy (SYM: CHWY)
An online retailer of pet food and other pet products, Chewy exploded from about $16 to $26 in recent days. All thanks to its latest $500 million stock buyback program. Plus, earnings have been strong. In its most recent quarter, the company's sales were up 3.1% year over to $2.88 billion. Adjusted EBITDA jumped 47%. Net income even jumped to $66.9 million from $22.9 million year over year. Adjusted EPS ran from 20 cents to 31 cents.
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Company: Trupanion (SYM: TRUP)
Pet insurance company, Trupanion (SYM: TRUP) recently ran from a low of about $20 to $27.71. The stock was recently upgraded to a buy rating by Bank of America.
"Management has guided to attaining its 15% target operating margin by YE24. However, there is a real possibility the company may over-shoot given the amount of excess rate over its 15% veterinary inflation rate assumption," said the firm.
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ETF: ProShares Pet Care ETF (SYM: PAWZ)
Or, if you want to diversify with 25 pet care stock at a lower cost, look at the ProShares Pet Care ETF (SYM: PAWZ). With an expense ratio of 0.50%, the ETF invests in pet care stocks that could benefit from an increase in pet ownership. Some of its top holdings include Chewy, FreshPet, Zoetis, CVS Group, Merck and Pets at Home Group.
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