Shares of pre-prepared food maker Mama’s Creations rise after new COO announced

Mama’s Creations manufactures fresh deli prepared foods and sells them across the U.S. / Photo: mamascreations.com

Quotes on Mama’s Creations, a maker of pre-prepared foods with a market capitalization of $298.1 million, rose 4.6% on Monday, September 9. Earlier in the day, the company announced that Skip Tappan, a manager with experience at Walmart, Procter & Gamble, and Campbell Soup, would be taking over as COO. He is expected to prepare the company “for future acquisitions and integrations.”

Details

On Monday, Mama’s Creations stock closed up 4.6% at $8.00 per share on the Nasdaq, having jumped as high as $8.40 per share during the day. In after-hours trading, it gained another 7.2%. The stock is up almost 63% since the beginning of the year and more than 78% over the last 12 months.

Before the opening bell on Monday, Mama’s Creations announced the appointment of Skip Tappan as COO. Tappan began his career at Procter & Gamble, where he ultimately led its North American distribution network for all beauty care and health care product categories. He has also managed logistics at Campbell Soup, headed the distribution center network at Walmart, and worked on creating the “supply chain of the future” at the privately owned food distributor Gordon Food Service.

“Skip will help us drive further consistency in our operations across our existing businesses and prepare us, proactively, for future acquisitions and integrations,” Mama’s Creations CEO and Chairman Adam L. Michaels was quoted as saying in the press release.

Analyst recommendations

Mama’s Creations manufactures fresh deli prepared foods, such as Italian dishes and salads, among others, and supplies them to over 8,000 stores in the U.S. In the first quarter of 2024, its revenue came in at $29.8 million, up 29% year over year. Earnings per share for the same period, however, plunged 75% to $0.01. The company plans to release its second-quarter results after the close today, Tuesday, September 10.

According to MarketWatch, all four analysts who cover Mama’s Creations recommend buying the stock. The average target price is $10.38 per share, indicating upside of about 30% versus the last closing price.