Allspring Global Investments Holdings LLC Buys 8,049 Shares of Vital Farms, Inc. (NASDAQ:VITL)

Allspring Global Investments Holdings LLC grew its holdings in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 53.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,177 shares of the company's stock after buying an additional 8,049 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Vital Farms worth $706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Vital Farms by 417.8% during the fourth quarter. Wellington Management Group LLP now owns 2,431,024 shares of the company's stock worth $91,625,000 after purchasing an additional 1,961,550 shares during the period. Vanguard Group Inc. lifted its position in shares of Vital Farms by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 2,236,848 shares of the company's stock valued at $84,307,000 after buying an additional 87,980 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Vital Farms by 64.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,058,753 shares of the company's stock valued at $39,904,000 after buying an additional 415,614 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Vital Farms by 10.4% in the fourth quarter. William Blair Investment Management LLC now owns 955,895 shares of the company's stock valued at $36,028,000 after buying an additional 89,772 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Vital Farms by 30.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 905,354 shares of the company's stock valued at $34,123,000 after buying an additional 208,951 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Vital Farms news, CFO Thilo Wrede sold 1,200 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $31.93, for a total transaction of $38,316.00. Following the transaction, the chief financial officer owned 57,117 shares in the company, valued at $1,823,745.81. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Russell Diez-Canseco sold 45,124 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $33.69, for a total value of $1,520,227.56. Following the transaction, the chief executive officer owned 703,736 shares in the company, valued at approximately $23,708,865.84. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,324 shares of company stock worth $4,469,714 in the last 90 days. Company insiders own 21.30% of the company's stock.

Vital Farms Stock Performance

NASDAQ:VITL traded down $0.74 during mid-day trading on Friday, hitting $38.17. 457,044 shares of the stock were exchanged, compared to its average volume of 1,030,570. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 34.08 and a beta of 0.94. The firm's 50-day simple moving average is $34.94 and its 200 day simple moving average is $35.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 3.35. Vital Farms, Inc. has a fifty-two week low of $27.91 and a fifty-two week high of $45.72.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.11. The business had revenue of $162.19 million during the quarter, compared to analysts' expectations of $164.43 million. Vital Farms had a return on equity of 19.53% and a net margin of 8.26%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. As a group, equities analysts anticipate that Vital Farms, Inc. will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VITL shares. Mizuho started coverage on Vital Farms in a research report on Tuesday, July 8th. They issued an "outperform" rating and a $45.00 price objective for the company. BMO Capital Markets raised Vital Farms to a "strong-buy" rating in a research report on Tuesday, May 6th. Morgan Stanley cut their price objective on Vital Farms from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of Vital Farms in a research report on Monday, May 5th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vital Farms currently has a consensus rating of "Buy" and a consensus target price of $44.67.

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.