The A2 Milk Company Ltd (ASX: A2M) share price has continued its strong form in 2018 and is up 42% year to date.
This rise means the infant formula and dairy company's shares have gained a whopping 658% over the last three years.
To put that gain into perspective, if you'd invested $25,000 in the company's shares three years ago, it would be worth a remarkable $189,500 today.
Is it too late to invest?
While I wouldn't expect a return of this level over the next three years, I believe a2 Milk Company is still capable of providing market-beating returns in the coming years due to the increasing demand for its infant formula in Asia and its dairy products in the ANZ market.
During the first four months of FY 2019 a2 Milk Company grew its infant formula value share in China to 5.6% from 5.1% at the end of FY 2018.
At home in the Australia and New Zealand market things were equally positive. The company's fresh milk business continues to gain share of the category, with a record ~10% share of the total fresh milk category.
Its a2 Platinum infant formula also remains the market leader in the ANZ market with a ~33% share, up from a ~32% share at the end of FY 2018.
Another positive this year has been the company's progress in the United States. An additional 3,000 stores have been added to its distribution network since the end of the last financial year, lifting its store count by 50% to 9,000 stores.
Overall, this led to revenue increasing 40.5% on the prior corresponding period to NZ$368.4 million and net profit after tax increasing 64.5% to NZ$86 million for the first four months of the financial year.
Should you buy shares today?
Based on current futures contracts and a2 Milk Company's NZ-listed shares, its ASX-listed shares look likely to sink notably lower on Tuesday. I think this could be a buying opportunity for investors that are prepared to hold onto its shares for the long term.
In addition to a2 Milk Company, I think Bellamy's Australia Ltd (ASX: BAL) shares could be worth considering during today's market weakness.
