Bank of New York Mellon Corp Invests $1.47 Million in Vital Farms, Inc. $VITL

Bank of New York Mellon Corp acquired a new stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 126,165 shares of the company's stock, valued at approximately $1,467,000. Bank of New York Mellon Corp owned about 0.29% of Vital Farms as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in shares of Vital Farms during the 4th quarter valued at $25,000. Quarry LP bought a new position in Vital Farms in the fourth quarter valued at about $27,000. Global Retirement Partners LLC boosted its position in Vital Farms by 4,382.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,031 shares of the company's stock worth $33,000 after purchasing an additional 1,008 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Vital Farms during the 3rd quarter valued at about $55,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Vital Farms by 225.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,452 shares of the company's stock valued at $46,000 after purchasing an additional 1,006 shares during the last quarter. Institutional investors own 98.59% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on VITL shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $15.00 target price on shares of Vital Farms in a report on Friday, August 7th. Jefferies Financial Group set a $13.00 price target on shares of Vital Farms in a research note on Tuesday, June 30th. Stifel Nicolaus set a $11.00 price objective on shares of Vital Farms in a research report on Friday, August 7th. TD Cowen upped their price objective on Vital Farms from $10.00 to $11.00 and gave the stock a "hold" rating 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 research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.18.

Vital Farms Stock Performance

VITL opened at $9.89 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 1.10. The stock has a market capitalization of $424.58 million, a price-to-earnings ratio of -247.25 and a beta of 1.05. The company has a fifty day moving average of $11.92 and a 200 day moving average of $12.77. Vital Farms, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $49.04.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, hitting the consensus estimate of ($0.47). The business had revenue of $166.03 million for the quarter, compared to analysts' expectations of $160.24 million. Vital Farms had a net margin of 0.02% and a return on equity of 3.46%. The business's quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, sell-side analysts forecast that Vital Farms, Inc. will post -0.48 earnings per share for the current fiscal year.

About Vital Farms

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.

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