BlackRock Inc. Invests $60.15 Million in Vital Farms, Inc. $VITL

Key Points

• BlackRock acquired 5.17 million Vital Farms shares worth approximately $60.15 million, giving it a 12.07% stake. Institutional investors and hedge funds collectively own 98.59% of VITL.
• Vital Farms reported quarterly revenue of $166.03 million, exceeding expectations, but revenue fell 10.2% year over year and the company posted a loss of $0.47 per share.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $17.18, compared with VITL’s recent opening price of $10.79.

BlackRock Inc. acquired a new position in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,172,187 shares of the company's stock, valued at approximately $60,153,000. BlackRock Inc. owned 12.07% of Vital Farms as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VITL. Van Berkom & Associates Inc. grew its holdings in shares of Vital Farms by 1,998.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,261,533 shares of the company's stock worth $31,933,000 after purchasing an additional 2,153,775 shares in the last quarter. Wasatch Advisors LP lifted its position in Vital Farms by 80.2% during the second quarter. Wasatch Advisors LP now owns 2,074,803 shares of the company's stock worth $79,921,000 after purchasing an additional 923,507 shares during the period. William Blair Investment Management LLC bought a new stake in Vital Farms during the fourth quarter worth about $25,534,000. Balyasny Asset Management L.P. grew its stake in Vital Farms by 466.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 503,894 shares of the company's stock worth $16,094,000 after buying an additional 641,394 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Vital Farms by 41.6% during the first quarter. Principal Financial Group Inc. now owns 2,153,008 shares of the company's stock worth $30,400,000 after buying an additional 632,537 shares in the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Vital Farms Price Performance

VITL opened at $10.79 on Monday. The company has a fifty day moving average price of $12.08 and a 200-day moving average price of $13.74. The firm has a market capitalization of $463.21 million, a P/E ratio of -269.75 and a beta of 1.07. Vital Farms, Inc. has a one year low of $7.95 and a one year high of $52.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 0.60.

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, hitting the consensus estimate of ($0.47). The firm 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 revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Equities research analysts expect that Vital Farms, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VITL has been the subject of several research analyst reports. TD Cowen boosted their target price on Vital Farms from $10.00 to $11.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Jefferies Financial Group set a $13.00 price target on shares of Vital Farms in a report on Tuesday, June 30th. Benchmark upgraded shares of Vital Farms from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Zacks Research raised shares of Vital Farms from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Mizuho set a $20.00 target price on shares of Vital Farms in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.18.

Vital Farms Company 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.

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