8 Best Pet Stocks to Buy According to Billionaires

4. Freshpet, Inc. (NASDAQ:FRPT)

Number of Billionaire Investors: 11

Number of Hedge Fund Holders: 40

Freshpet, Inc. (NASDAQ:FRPT) is an American pet food company. Its cat food and dog food products are prepared by veterinary nutritionists and marketed as nutritious and fresh. The company’s food products are available in select grocery, mass, club, pet specialty, natural, and digital retailers across the US, Canada, and Europe. Freshpet, Inc. (NASDAQ:FRPT) ranks among the best pet stocks to invest in.

On February 24, Jefferies upgraded Freshpet, Inc. (NASDAQ:FRPT) from a “Hold” to a “Buy” rating while reducing the stock’s price target to $150 from $155. This adjustment followed the company’s strong Q4 2024 results. The analysts noted the persistent strength of the pet premiumization trend and improvements in the broader pet industry. Jefferies analysts forecast Freshpet, Inc.’s (NASDAQ:FRPT) sales to grow at a compound annual growth rate of 23% through 2027, alongside expanding profit margins, which the analysts see as a rare combination. The positive outlook is supported by promising trends in the pet industry. Jefferies believes these factors position Freshpet, Inc. (NASDAQ:FRPT) for continued growth and profitability over the next few years.