18,296 Shares in Vital Farms, Inc. $VITL Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp has acquired 18,296 shares of Vital Farms, Inc., valued at approximately $705,000, marking a new position in the company during the second quarter.
• Vital Farms reported a 25.4% increase in quarterly revenue year-over-year, with earnings of $0.36 per share exceeding analysts' expectations of $0.27.
• Despite a strong performance, analysts show a mixed sentiment with recent upgrades and a downgrade, leading to an average rating of "Moderate Buy" and a consensus target price of $49.80 for the stock.

Truist Financial Corp acquired a new position in Vital Farms, Inc. (NASDAQ:VITL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,296 shares of the company's stock, valued at approximately $705,000.

Several other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in Vital Farms by 20,650.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,660 shares of the company's stock valued at $51,000 after buying an additional 1,652 shares in the last quarter. US Bancorp DE grew its holdings in Vital Farms by 36.2% during the 1st quarter. US Bancorp DE now owns 1,929 shares of the company's stock valued at $59,000 after buying an additional 513 shares in the last quarter. CWM LLC grew its holdings in Vital Farms by 43.2% during the 1st quarter. CWM LLC now owns 2,154 shares of the company's stock valued at $66,000 after buying an additional 650 shares in the last quarter. Comerica Bank grew its holdings in Vital Farms by 63.2% during the 1st quarter. Comerica Bank now owns 4,049 shares of the company's stock valued at $123,000 after buying an additional 1,568 shares in the last quarter. Finally, Hanson & Doremus Investment Management purchased a new position in Vital Farms during the 1st quarter valued at about $130,000. Hedge funds and other institutional investors own 98.59% of the company's stock.

Vital Farms Stock Performance

NASDAQ:VITL opened at $41.98 on Wednesday. The business has a 50 day moving average of $46.26 and a 200 day moving average of $38.79. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 37.48 and a beta of 0.92. Vital Farms, Inc. has a 1-year low of $27.91 and a 1-year high of $53.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.48 and a quick ratio of 2.10.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.09. The company had revenue of $184.77 million during the quarter, compared to the consensus estimate of $170.28 million. Vital Farms had a return on equity of 18.40% and a net margin of 7.84%.Vital Farms's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Vital Farms has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vital Farms news, CEO Russell Diez-Canseco sold 9,667 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $44.39, for a total value of $429,118.13. Following the completion of the sale, the chief executive officer owned 666,109 shares in the company, valued at approximately $29,568,578.51. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Ohayer sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $50.96, for a total value of $5,096,000.00. Following the completion of the sale, the insider owned 6,482,070 shares of the company's stock, valued at $330,326,287.20. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,868 shares of company stock worth $20,894,584. Company insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

VITL has been the subject of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Vital Farms in a report on Thursday, September 18th. BMO Capital Markets lifted their target price on Vital Farms from $50.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Mizuho lifted their target price on Vital Farms from $45.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, August 11th. DA Davidson boosted their price objective on Vital Farms from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Weiss Ratings lowered Vital Farms from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.80.

Vital Farms Company Profile

Vital Farms, Inc, a food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, and liquid whole eggs. The company was founded in 2007 and is headquartered in Austin, Texas.

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