Simple Qualitative
Long/short equity, growth

Annie's: Expensive But Primed For Growth

Annie's, Inc. (NYSE:BNNY), a small-cap natural foods company, has performed exceptionally well since its initial public offering last year. The IPO, led by Credit Suisse (NYSE:CS) and JPMorgan (NYSE:JPM), was highly anticipated and demanded by the street. Initially, the company planned to offer 5 million shares priced at $14-16 before upping the range to $16-$18. Shares eventually priced at $19 before rising almost 90% on the first day of trading. Since then shares haven't outperformed the broad markets but have still returned investors 10.7% post the first trading session. Annie's, primarily known for its organic mac and cheese, offers consumers a growing selection of organic offerings including pizza, dressings, cookies, crackers, and an array...

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