Freshpet Stock Falls Following Earnings Report
Shares of Freshpet (NASDAQ: FRPT) were falling on Tuesday after the high-end pet food purveyor reported its full-year 2020 results. The company also announced plans for a $300 million secondary stock offering, which likely added to the downward pressure on the share price. As of 3:33 p.m. EST, Freshpet stock was down 4.7%.
Freshpet's revenue growth accelerated for the fourth consecutive year in 2020. Net sales in 2020 were up almost 30%, which is about what Wall Street expected. However, net sales in the fourth quarter were only up 28.5% year over year, reflecting a slight slowing of growth. It appears investors weren't too keen to see even that much of a slowdown.
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Source Fool.com
