Federated Hermes Inc. Sells 12,308 Shares of Vital Farms, Inc. (NASDAQ:VITL)

Key Points

• Federated Hermes Inc. reduced its stake in Vital Farms by 31.2%, now owning approximately 0.06% of the company, valued at $828,000.
• Insider Matthew Ohayer sold 5,000 shares at $40.34 each, resulting in a total transaction of $201,700, while CFO Thilo Wrede sold 1,200 shares for $46,764.
• Vital Farms reported a 25.4% year-over-year increase in revenue for the quarter, totaling $184.77 million, surpassing analysts' estimates of $170.28 million.

Federated Hermes Inc. decreased its stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 31.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,161 shares of the company's stock after selling 12,308 shares during the period. Federated Hermes Inc. owned 0.06% of Vital Farms worth $828,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Vital Farms by 152.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company's stock valued at $35,000 after acquiring an additional 540 shares during the last quarter. CWM LLC increased its holdings in shares of Vital Farms by 43.2% during the 1st quarter. CWM LLC now owns 2,154 shares of the company's stock valued at $66,000 after acquiring an additional 650 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Vital Farms during the 1st quarter valued at about $112,000. Hanson & Doremus Investment Management acquired a new position in shares of Vital Farms during the 1st quarter valued at about $130,000. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Vital Farms by 15.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,487 shares of the company's stock valued at $131,000 after acquiring an additional 475 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company's stock.

Vital Farms Stock Performance

Shares of VITL stock traded down $0.47 during mid-day trading on Tuesday, reaching $45.69. The stock had a trading volume of 243,863 shares, compared to its average volume of 989,147. The firm's 50 day simple moving average is $36.75 and its 200 day simple moving average is $34.85. 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 one year low of $27.91 and a one year high of $46.40. The firm has a market cap of $2.04 billion, a PE ratio of 40.81 and a beta of 0.94.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.09. Vital Farms had a return on equity of 18.40% and a net margin of 7.84%. The company had revenue of $184.77 million during the quarter, compared to the consensus estimate of $170.28 million. During the same quarter last year, the company earned $0.36 EPS. The company's quarterly revenue was up 25.4% on a year-over-year basis. On average, analysts forecast that Vital Farms, Inc. will post 1.11 EPS for the current year.

Analysts Set New Price Targets

VITL has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Vital Farms from $44.00 to $48.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley decreased their target price on Vital Farms from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Telsey Advisory Group increased their target price on Vital Farms from $46.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday. DA Davidson increased their target price on Vital Farms from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Monday. Finally, BMO Capital Markets restated an "outperform" rating on shares of Vital Farms in a research note on Friday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $48.20.

Insiders Place Their Bets

In other news, CFO Thilo Wrede sold 1,200 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $38.97, for a total value of $46,764.00. Following the completion of the transaction, the chief financial officer owned 56,187 shares in the company, valued at approximately $2,189,607.39. This represents a 2.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Ohayer sold 30,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $39.17, for a total transaction of $1,175,100.00. Following the completion of the transaction, the insider owned 6,858,890 shares of the company's stock, valued at approximately $268,662,721.30. This represents a 0.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,400 shares of company stock valued at $2,413,630. Corporate insiders own 21.30% of the company's stock.

Vital Farms Profile

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.