'The humanization of pets has been a fabulous secular growth story — one that's really paid off in 2019,' Cramer says.
in late 2018. After going public at $24 per share, the stock began trading at $32 and has maintained those levels.
"Lilly spun out Elanco via an IPO, which led investors to bid up the stock, and it's been digesting those gains ever since. Still, I like the company. Straightforward story," Cramer said. "We'll give it a 7.5% weighting.": Central Garden & Pet is a lawn and garden goods distributor, but most of its business is in pet supplies.
"At these levels, the stock has gotten a lot cheaper than it was last year, and, you know what, it would be a mistake to totally bail on it," Cramer said. "So let's keep Central Garden & Pet in the ETF, but cut its weighting from 10% to 5%.": PetIQ, which makes drugs for animals and operates veterinary clinics, saw its stock peak above $40 in September before it plummeted during the market selloff that closed out 2018.
"While I don't have a great read on that VIP Petcare situation, the story seems intact to me, and I still think it has enormous potential," he said. "But we wanna cut PetIQ's allocation from 10% to 5%, but leave it in the portfolio."
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