The popular organic children’s food brand is facing a growing crisis after a nationwide product recall raised serious safety concerns among parents and sent its stock plunging.
Once Upon a Farm, the baby and toddler food company co-founded by actress Jennifer Garner, has recalled every variety and lot of its Tractor Wheels Organic Toddler Soft-Baked Bars following reports of choking incidents involving young children.
The company announced the recall on Oct. 30, and the Food and Drug Administration subsequently published a recall notice covering products sold nationwide, including Puerto Rico.
The consequences are already being felt beyond grocery shelves. Once Upon a Farm shares plunged about 37% on Nov. 2 following the recall announcement. The stock fell further during trading on Nov. 3, touching an all-time low of $8.83, before recovering slightly in the following days.
Shares closed at $10.02 on Nov. 10. The developments come just days before the company reports its third-quarter financial results on Nov. 12.
FDA warns Once Upon a Farm toddler snacks pose serious choking risk
The recall affects Tractor Wheels soft-baked bars marketed as snacks for toddlers, including three flavors:
- Strawberry, Pumpkin & Beet
- Apple, Sweet Potato & Spinach
- Banana, Pumpkin & Cauliflower
The recall includes individual cartons, multipacks, and online snack sampler bundles containing Tractor Wheels. It covers all lot codes, including expired products that consumers may still have at home.
According to the FDA’s safety advisory, the bars can form a dense, dry, and sticky mass when chewed, creating a potentially fatal choking hazard.
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The agency received reports of children between 18 months and 2½ years old experiencing complete airway obstruction after eating the snacks.
In some incidents, conventional choking interventions, including back blows and abdominal thrusts, were reportedly unsuccessful in removing the obstruction. The FDA said some incidents required emergency intervention and hospital observation.
Once Upon a Farm said three consumer complaints prompted the recall and that it was not aware of any reported injuries.
The FDA identified Costco, Target, and Walmart among retailers carrying the affected products, although the snacks were also distributed through other stores and online platforms.
Consumers should not feed the recalled bars to children. They can return the products to the retailer for a full refund or contact Once Upon a Farm at [email protected]. The company says refund requests submitted through customer care can take up to 10 business days to process.
No other Once Upon a Farm products are included in the recall.
A popular Once Upon a Farm product is recalled, leading to a stock plunge ahead of earnings.
Once Upon a Farm stock plunges as recall threatens major sales
The recall is particularly significant because Tractor Wheels are not a minor part of Once Upon a Farm’s business.
During a Nov. 2 business update, CEO John Foraker disclosed that the product line accounted for approximately 18% of the company’s year-to-date net sales.
He acknowledged that removing the snacks from stores would hurt revenue until shipments resume, but also expressed confidence in a comeback.
“These products are top sellers, highly productive SKU’s, and beloved by consumers. As soon as we are ready to reenter the market, we are confident in our ability to rebuild distribution quickly,” Foraker said.
However, analysts at Bank of America are not as optimistic. The bank double-downgraded Once Upon a Farm to Underperform from Buy and slashed its price target to $10 from $21.
The firm warned that focusing solely on Tractor Wheels’ 18% contribution to sales could underestimate the potential damage to the business. Even if the company acts decisively and communicates clearly with consumers, reformulating the snacks could take time, while rebuilding parental trust may take even longer.
The timing is particularly challenging for a company that went public in February 2026 and had been reporting strong growth.
During the second quarter, Once Upon a Farm’s net sales increased 42.3% from a year earlier to $85.4 million. The company had also raised its full-year sales outlook to between $327 million and $335 million.
Wall Street is not sure of a comeback
Bank of America is not the only Wall Street firm questioning how quickly Once Upon a Farm can recover from the recall.
JPMorgan cut its price target in half to $13 from $26, while maintaining an Overweight rating on the shares.
The bank lowered its financial estimates following the recall, citing both immediate sales pressure and longer-term uncertainty surrounding the brand. JPMorgan said the stock’s sharp decline was warranted given the disruption to one of the company’s major product lines.
The firm also warned that high-growth companies are particularly vulnerable when investors become uncertain about their future growth prospects, suggesting the market could continue to punish Once Upon a Farm until there is greater clarity about its recovery.
TD Cowen similarly lowered its price target to $13 from $18 while maintaining a Hold rating.
The bank highlighted the significance of Tractor Wheels and acknowledged that Once Upon a Farm could see considerable upside if the products return to store shelves quickly.
However, TD Cowen recommended staying on the sidelines until there is more clarity on how consumers respond to the recall and what steps the company will take to assure parents that its products are safe.
Deutsche Bank also reduced its price target to $13 from $20 while keeping a Hold rating on the stock.
The firm cited near-term uncertainty stemming from the Tractor Wheels recall, adding to concerns about how long the products might remain unavailable and the financial disruption the company faces.
While the banks differ in their recommendations, their assessments point to a common concern: Once Upon a Farm’s recovery will depend not only on getting Tractor Wheels back into stores but also on convincing parents that the products are safe.
Once Upon a Farm is trying to find out the issue
The company’s next challenge is determining what caused the problem and whether Tractor Wheels can safely return to stores.
During the Nov. 2 call, Foraker said the company had investigated manufacturing records, ingredients, and product specifications but had not identified a root cause directly linked to the choking complaints.
The company has engaged an independent third party to evaluate the snacks and is preparing plans for a possible return to shelves once its review is complete and any necessary safety changes have been validated.
Foraker acknowledged that the company still could not reliably estimate the recall’s total financial impact, including product withdrawals, retailer costs, and potential insurance recoveries.
He also emphasized the importance of consumer confidence, saying, “Trust is our number one asset.”
Once Upon a Farm reported approximately $106.4 million in cash and no debt at the end of September, providing some financial flexibility as it works through the disruption.
The company is scheduled to release third-quarter results after markets close on Thursday, Nov. 12, followed by a conference call at 5 p.m. EST. Because the recall began in October, after the third quarter ended, its direct financial consequences will not be reflected in the September-quarter results.
Instead, investors will be on the lookout for whether management revises its full-year outlook, provides an estimate of recall-related costs and offers a clearer timeline for bringing Tractor Wheels back to stores.
For parents, the more immediate question remains whether the company can identify and resolve the choking hazard before the recalled snacks return to shelves.
