Bank of America Corp DE Has $7.28 Million Stock Position in Vital Farms, Inc. $VITL

Key Points

• Bank of America reduced its Vital Farms stake by 26.4% in the first quarter, selling 184,523 shares and retaining 515,465 shares worth approximately $7.28 million.
• Institutional investors own 98.59% of Vital Farms, although holdings were mixed: several firms increased positions while Bank of America cut its stake.
• Vital Farms reported quarterly revenue of $166.03 million, above estimates but down 10.2% year over year, while posting an EPS loss of $0.47. Analysts have an overall “Hold” rating and an average price target of $17.18, compared with the stock’s $11.11 opening price.

Bank of America Corp DE reduced its stake in Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,465 shares of the company's stock after selling 184,523 shares during the period. Bank of America Corp DE owned approximately 1.20% of Vital Farms worth $7,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. California State Teachers Retirement System grew its position in Vital Farms by 16.7% in the first quarter. California State Teachers Retirement System now owns 40,968 shares of the company's stock valued at $578,000 after acquiring an additional 5,851 shares during the period. Royal Bank of Canada raised its stake in Vital Farms by 24.8% during the first quarter. Royal Bank of Canada now owns 22,495 shares of the company's stock worth $318,000 after acquiring an additional 4,471 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Vital Farms by 85.5% during the first quarter. Quantinno Capital Management LP now owns 17,144 shares of the company's stock valued at $242,000 after acquiring an additional 7,902 shares during the period. SummitTX Capital L.P. bought a new position in shares of Vital Farms during the first quarter valued at $1,046,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Vital Farms by 20.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 222,523 shares of the company's stock valued at $3,142,000 after purchasing an additional 37,223 shares in the last quarter. Institutional investors own 98.59% of the company's stock.

Vital Farms Stock Performance

Shares of NASDAQ:VITL opened at $11.11 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11. Vital Farms, Inc. has a 1-year low of $7.95 and a 1-year high of $53.13. The stock has a market capitalization of $476.95 million, a P/E ratio of -277.75 and a beta of 1.07. The business has a 50-day moving average price of $12.07 and a two-hundred day moving average price of $14.08.

Vital Farms (NASDAQ:VITL - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.47). Vital Farms had a net margin of 0.02% and a return on equity of 3.46%. The company had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.24 million. During the same quarter last year, the firm earned $0.36 EPS. The company's revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts predict that Vital Farms, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Vital Farms from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Vital Farms from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Mizuho set a $20.00 price objective on shares of Vital Farms in a report on Monday, May 4th. BMO Capital Markets reiterated an "outperform" rating and issued a $15.00 target price on shares of Vital Farms in a research note on Friday, August 7th. Finally, Benchmark raised Vital Farms from a "hold" rating to a "buy" rating in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.18.

Vital Farms Profile

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms' supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.

Want to see what other hedge funds are holding VITL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vital Farms, Inc. (NASDAQ:VITL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source