Goodfood Market Corp.

FOOD-T

TSE:FOOD

3.10
0.01 (0.32%)
Goodfood Market Corp. is a Canadian public meal kit company based in Montreal, Quebec. It had 61,000 subscribers as of February 28th, 2018, an estimated 30 to 40% of the meal kit market. It is listed on the Toronto Stock Exchange.
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Analysis and Opinions about FOOD-T

Signal
Opinion
Expert
BUY
BUY
October 31, 2019
From $40 to $240 Million in sales in three years. 45% of the meal kit market. They recently announced they're positioning against the grocery market. They are being very smart about this. They are leveraging their platform to add to the food basket. They trade at a big discount. They just announced a reusable box that is made mostly out of air.
From $40 to $240 Million in sales in three years. 45% of the meal kit market. They recently announced they're positioning against the grocery market. They are being very smart about this. They are leveraging their platform to add to the food basket. They trade at a big discount. They just announced a reusable box that is made mostly out of air.
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.900
Owned
Yes
TOP PICK
TOP PICK
September 10, 2019
One of the fastest-growing companies on the TSX. Trading at only 0.5x their revenue Pays. No dividend. They see a huge opportunity in delivering groceries to the home and not just fresh foods. They're a disruptor in the grocery space. Enjoys high margins. Down the line, a major supermarket will acquiring them. (Analysts’ price target is $4.39)
One of the fastest-growing companies on the TSX. Trading at only 0.5x their revenue Pays. No dividend. They see a huge opportunity in delivering groceries to the home and not just fresh foods. They're a disruptor in the grocery space. Enjoys high margins. Down the line, a major supermarket will acquiring them. (Analysts’ price target is $4.39)
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$3.000
Owned
Yes
BUY
BUY
June 3, 2019

They are the meal kit market leaders in Canada. They have a 45% market share. He is a happy customer. They are providing a valuable service to consumers. They did a good job at execution. Their subscriber numbers are ahead of analysts' expectations. He thinks there is a lot of growth yet to come. They are spending a lot of money on marketing now but in a reasonable time they will turn a profit on the bottom line.

They are the meal kit market leaders in Canada. They have a 45% market share. He is a happy customer. They are providing a valuable service to consumers. They did a good job at execution. Their subscriber numbers are ahead of analysts' expectations. He thinks there is a lot of growth yet to come. They are spending a lot of money on marketing now but in a reasonable time they will turn a profit on the bottom line.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.700
Owned
Yes
TOP PICK
TOP PICK
March 27, 2019
One of fastest growing companies on TSX. About 45% market share. Subscriber base and revenues have quintupled, but the price hasn't gone up as much. Valuation today is less than a year ago. Expects subscriber base to rise 150% over the next year. The stock has a lot higher to go. No dividend. (Analysts’ price target is $5.10)
One of fastest growing companies on TSX. About 45% market share. Subscriber base and revenues have quintupled, but the price hasn't gone up as much. Valuation today is less than a year ago. Expects subscriber base to rise 150% over the next year. The stock has a lot higher to go. No dividend. (Analysts’ price target is $5.10)
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$3.450
Owned
Yes
BUY
BUY
January 28, 2019
Third largest holding. They have a 45% market share. They deliver proportioned meals to your door. There is zero wastage. It reduces your carbon footprint. All the packaging is recyclable. Margins are much healthier. They are growing quickly and the stocks is reasonably priced.
Third largest holding. They have a 45% market share. They deliver proportioned meals to your door. There is zero wastage. It reduces your carbon footprint. All the packaging is recyclable. Margins are much healthier. They are growing quickly and the stocks is reasonably priced.
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$3.500
Owned
Yes
STRONG BUY
STRONG BUY
December 3, 2018
It is one of Canada's leading meal kit companies. Last quarter they came in ahead of top line revenue growth. They improved gross margins, better than the grocery industry. There is no wastage of food. This morning's subscriber numbers blew him out of the water. He is really, really happy. Someone might make an offer for them.
It is one of Canada's leading meal kit companies. Last quarter they came in ahead of top line revenue growth. They improved gross margins, better than the grocery industry. There is no wastage of food. This morning's subscriber numbers blew him out of the water. He is really, really happy. Someone might make an offer for them.
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.980
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 24, 2018

(A Top Pick Sep 25/17, Up 6%) It is the largest such company in Canada. It has tripled its subscriber base recently. They are in Eastern AND Western Canada. They are a disruptor. There is no inventory or wastage as people order exactly what they need. It goes straight from the distribution center to your door. He thinks this will make a very attractive target for a Canadian grocer.

(A Top Pick Sep 25/17, Up 6%) It is the largest such company in Canada. It has tripled its subscriber base recently. They are in Eastern AND Western Canada. They are a disruptor. There is no inventory or wastage as people order exactly what they need. It goes straight from the distribution center to your door. He thinks this will make a very attractive target for a Canadian grocer.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.640
Owned
Yes
BUY
BUY
June 14, 2018

A core holding for him. He participated in the new issue. They have market share estimated at 40%. A very well managed company. They have much higher customer loyalty and lower customer turn than others. They are managing their costs. They are spending a lot in marketing. They are investing in the growth of the business to get greater market share. It is cooking for dummies. He thinks they will do very well and could get acquired by a big grocery chain.

A core holding for him. He participated in the new issue. They have market share estimated at 40%. A very well managed company. They have much higher customer loyalty and lower customer turn than others. They are managing their costs. They are spending a lot in marketing. They are investing in the growth of the business to get greater market share. It is cooking for dummies. He thinks they will do very well and could get acquired by a big grocery chain.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.500
Owned
Yes
BUY
BUY
January 29, 2018

They are a meal kit company delivered to the home. Their penetration is incredible. The service is very big in Europe. They are focused on growth but focused on the bottom line also. He thinks the trend is here to stay. They could become an interesting acquisition target.

They are a meal kit company delivered to the home. Their penetration is incredible. The service is very big in Europe. They are focused on growth but focused on the bottom line also. He thinks the trend is here to stay. They could become an interesting acquisition target.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$3.010
Owned
Unknown
COMMENT
COMMENT
January 23, 2018

This is in the new, emerging "meal kit" business. The concept is interesting. As people's lives get busier and they don't want to order in every night, this concept is gaining steam. There are a number of upstart companies in the US that have been growing very rapidly. This company has done a great job of growing their subscriber base and revenues, and is a very interesting company to watch. However, it is early stage and not making a lot of money. You have to look at this as a 3-4 year investment. He is watching and monitoring this with interest.

This is in the new, emerging "meal kit" business. The concept is interesting. As people's lives get busier and they don't want to order in every night, this concept is gaining steam. There are a number of upstart companies in the US that have been growing very rapidly. This company has done a great job of growing their subscriber base and revenues, and is a very interesting company to watch. However, it is early stage and not making a lot of money. You have to look at this as a 3-4 year investment. He is watching and monitoring this with interest.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$2.840
Owned
No
STRONG BUY
STRONG BUY
December 11, 2017

He has been accumulating stock and really likes the company. Canada has a long way to go to catch up to Europe and the US. They just moved into a new Montreal facility. They are moving out west next year. If you get in now you should make a lot of money. It is a great subscription model.

He has been accumulating stock and really likes the company. Canada has a long way to go to catch up to Europe and the US. They just moved into a new Montreal facility. They are moving out west next year. If you get in now you should make a lot of money. It is a great subscription model.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.110
Owned
Yes
TOP PICK
TOP PICK
September 25, 2017

They have about 40% of the market. They disclosed there are up to 31k subscribers. They just went public in June. They are full of cash and now increasing their distribution facility in Montreal 10 fold. They will open a facility out west next year. It would make sense for a large grocer to acquire this one to get into the business of direct delivery to the home. They have great management. (Analysts’ target: $2.63).

They have about 40% of the market. They disclosed there are up to 31k subscribers. They just went public in June. They are full of cash and now increasing their distribution facility in Montreal 10 fold. They will open a facility out west next year. It would make sense for a large grocer to acquire this one to get into the business of direct delivery to the home. They have great management. (Analysts’ target: $2.63).

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$2.480
Owned
Yes
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