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

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

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Vital Farms by 417.8% in the fourth quarter. Wellington Management Group LLP now owns 2,431,024 shares of the company's stock valued at $91,625,000 after buying an additional 1,961,550 shares during the period. Lord Abbett & CO. LLC increased its holdings in Vital Farms by 64.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,058,753 shares of the company's stock worth $39,904,000 after acquiring an additional 415,614 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in Vital Farms by 96.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 628,709 shares of the company's stock worth $23,696,000 after acquiring an additional 308,425 shares during the last quarter. Wasatch Advisors LP raised its stake in Vital Farms by 105.5% in the 4th quarter. Wasatch Advisors LP now owns 579,808 shares of the company's stock valued at $21,853,000 after acquiring an additional 297,684 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Vital Farms during the fourth quarter valued at about $10,043,000. Hedge funds and other institutional investors own 98.59% of the company's stock.

Insider Buying and Selling at Vital Farms

In other news, insider Matthew Ohayer sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $39.17, for a total value of $1,175,100.00. Following the completion of the transaction, the insider directly owned 6,858,890 shares in the company, valued at approximately $268,662,721.30. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thilo Wrede sold 1,200 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $31.93, for a total value of $38,316.00. Following the completion of the sale, the chief financial officer directly owned 57,117 shares of the company's stock, valued at approximately $1,823,745.81. This trade represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,324 shares of company stock worth $4,469,714 over the last three months. 21.30% of the stock is owned by insiders.

Vital Farms Price Performance

Shares of VITL stock traded down $0.74 on Friday, reaching $38.17. The company's stock had a trading volume of 457,044 shares, compared to its average volume of 1,028,834. The company has a market capitalization of $1.70 billion, a P/E ratio of 34.08 and a beta of 0.94. Vital Farms, Inc. has a 12-month low of $27.91 and a 12-month high of $45.72. The stock's 50 day simple moving average is $34.94 and its 200-day simple moving average is $35.29. The company has a quick ratio of 2.91, a current ratio of 3.35 and a debt-to-equity ratio of 0.03.

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, beating the consensus estimate of $0.26 by $0.11. Vital Farms had a return on equity of 19.53% and a net margin of 8.26%. The firm had revenue of $162.19 million for the quarter, compared to analysts' expectations of $164.43 million. During the same quarter last year, the firm posted $0.43 EPS. The company's revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Telsey Advisory Group reiterated an "outperform" rating and issued a $52.00 target price on shares of Vital Farms in a research note on Monday, May 5th. DA Davidson reduced their price objective on shares of Vital Farms from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, March 14th. BMO Capital Markets upgraded Vital Farms to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho initiated coverage on Vital Farms in a report on Tuesday. They issued an "outperform" rating and a $45.00 price target for the company. Finally, Morgan Stanley decreased their price objective on Vital Farms from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Nine 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, the company currently has a consensus rating of "Buy" and a consensus price target 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.