Cibc World Market Inc. Invests $12.97 Million in Vital Farms, Inc. $VITL

Key Points

• CIBC World Market acquired 1.12 million Vital Farms shares worth approximately $12.97 million, giving it a 2.60% stake. Institutional investors collectively own 98.59% of the company.
• Analyst sentiment is mixed: five analysts rate VITL a Buy, eight rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $17.18.
• 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. Shares opened at $11.08, well below their 12-month high of $53.13.

Cibc World Market Inc. acquired a new stake 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 SEC. The fund acquired 1,115,643 shares of the company's stock, valued at approximately $12,975,000. Cibc World Market Inc. owned 2.60% of Vital Farms as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Van Berkom & Associates Inc. purchased a new position in shares of Vital Farms during the fourth quarter worth approximately $3,442,000. Principal Financial Group Inc. increased its holdings in Vital Farms by 10.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,520,471 shares of the company's stock worth $48,564,000 after purchasing an additional 142,790 shares during the period. Vanguard Group Inc. raised its position in Vital Farms by 22.9% during the 4th quarter. Vanguard Group Inc. now owns 2,845,714 shares of the company's stock valued at $90,892,000 after purchasing an additional 530,008 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Vital Farms by 79.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,263 shares of the company's stock worth $37,474,000 after buying an additional 519,369 shares during the period. Finally, Mawer Investment Management Ltd. bought a new position in shares of Vital Farms during the 4th quarter worth $6,901,000. Institutional investors own 98.59% of the company's stock.

Wall Street Analysts Forecast Growth

VITL has been the topic of several research reports. Wall Street Zen lowered Vital Farms from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 9th. Craig Hallum cut shares of Vital Farms from a "buy" rating to a "hold" rating and set a $10.00 target price on the stock. in a report on Friday, May 8th. Stifel Nicolaus set a $11.00 target price on shares of Vital Farms in a research report on Friday, August 7th. William Blair restated a "market perform" rating on shares of Vital Farms in a report on Friday, May 8th. Finally, Needham & Company LLC upped their price target on shares of Vital Farms from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.18.

Vital Farms Price Performance

Shares of VITL opened at $11.08 on Tuesday. The company has a 50 day moving average of $12.06 and a two-hundred day moving average of $14.19. The company has a market cap of $475.66 million, a price-to-earnings ratio of -277.00 and a beta of 1.07. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.11. Vital Farms, Inc. has a twelve month low of $7.95 and a twelve month high of $53.13.

Vital Farms (NASDAQ:VITL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.47) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.47). Vital Farms had a return on equity of 3.46% and a net margin of 0.02%.The firm had revenue of $166.03 million during the quarter, compared to analysts' expectations of $160.24 million. During the same quarter last year, the firm earned $0.36 EPS. The business's quarterly revenue was down 10.2% on a year-over-year basis. As a group, analysts predict 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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