Connective Capital Management LLC Makes New $618,000 Investment in Vital Farms, Inc. $VITL

Key Points

• Connective Capital Management LLC acquired 20,291 shares of Vital Farms, Inc. ($VITL) in the first quarter, representing approximately $618,000 and making it the fund's 26th largest position.
• Multiple institutional investors have notably increased their stakes in Vital Farms, with 98.59% of the company's stock currently owned by institutional investors and hedge funds.
• Vital Farms has a consensus rating of "Buy" among analysts, with a target price ranging from $48.20 to $60.00, following a strong quarterly earnings report that exceeded revenue and earnings expectations.

Connective Capital Management LLC bought a new stake in Vital Farms, Inc. (NASDAQ:VITL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,291 shares of the company's stock, valued at approximately $618,000. Vital Farms makes up about 0.6% of Connective Capital Management LLC's portfolio, making the stock its 26th largest holding.

Several other institutional investors also recently bought and sold shares of VITL. Allspring Global Investments Holdings LLC lifted its stake in shares of Vital Farms by 53.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,177 shares of the company's stock worth $706,000 after buying an additional 8,049 shares during the period. Vontobel Holding Ltd. increased its holdings in Vital Farms by 6.6% in the first quarter. Vontobel Holding Ltd. now owns 8,421 shares of the company's stock valued at $257,000 after buying an additional 521 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Vital Farms by 25.2% in the fourth quarter. Ameriprise Financial Inc. now owns 84,592 shares of the company's stock valued at $3,188,000 after buying an additional 17,017 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Vital Farms in the fourth quarter valued at $1,114,000. Finally, Arizona State Retirement System grew its position in shares of Vital Farms by 7.7% in the first quarter. Arizona State Retirement System now owns 9,407 shares of the company's stock valued at $287,000 after purchasing an additional 672 shares during the period. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Vital Farms Stock Performance

NASDAQ:VITL traded down $0.29 during trading hours on Friday, reaching $51.09. 952,879 shares of the company's stock were exchanged, compared to its average volume of 1,216,786. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 45.62 and a beta of 0.94. The company has a 50-day moving average of $41.52 and a 200 day moving average of $35.88. The company has a quick ratio of 2.10, a current ratio of 2.48 and a debt-to-equity ratio of 0.02. Vital Farms, Inc. has a 1-year low of $27.91 and a 1-year high of $53.13.

Vital Farms (NASDAQ:VITL - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $184.77 million for the quarter, compared to the consensus estimate of $170.28 million. Vital Farms had a net margin of 7.84% and a return on equity of 18.40%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Vital Farms has set its FY 2025 guidance at EPS. Research analysts anticipate that Vital Farms, Inc. will post 1.11 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on VITL. Mizuho lifted their target price on shares of Vital Farms from $45.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Telsey Advisory Group boosted their target price on shares of Vital Farms from $46.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, August 8th. DA Davidson boosted their target price on shares of Vital Farms from $51.00 to $52.00 and gave the company a "buy" rating in a report on Monday, August 11th. BMO Capital Markets reissued an "outperform" rating on shares of Vital Farms in a research report on Friday, August 8th. Finally, Lake Street Capital set a $60.00 target price on Vital Farms and gave the company a "buy" rating in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $48.20.

Insider Transactions at Vital Farms

In related news, insider Matthew Ohayer sold 4,200 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $50.25, for a total transaction of $211,050.00. Following the sale, the insider owned 6,827,070 shares of the company's stock, valued at approximately $343,060,267.50. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joanne Bal sold 4,796 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $50.95, for a total transaction of $244,356.20. Following the sale, the insider directly owned 43,332 shares in the company, valued at approximately $2,207,765.40. This represents a 9.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,901 shares of company stock valued at $4,141,052. 21.30% of the stock is owned by company insiders.

About Vital Farms

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.