Needham Investment Management LLC Buys 50,000 Shares of Vital Farms, Inc. $VITL

Key Points

• Needham Investment Management LLC increased its stake in Vital Farms, Inc. by 11.0% during Q1, now holding 505,000 shares valued at approximately $15.4 million.
• The company reported a 25.4% year-over-year increase in revenue, amounting to $184.77 million, and earnings per share of $0.36 for the last quarter.
• Multiple analysts have set positive price targets for Vital Farms, with an average target of $49.80 and several analysts rating it as a "Buy".

Needham Investment Management LLC lifted its stake in Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 505,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Vital Farms makes up approximately 1.4% of Needham Investment Management LLC's investment portfolio, making the stock its 23rd largest position. Needham Investment Management LLC owned approximately 1.13% of Vital Farms worth $15,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VITL. Caitong International Asset Management Co. Ltd increased its position in shares of Vital Farms by 20,650.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,660 shares of the company's stock valued at $51,000 after acquiring an additional 1,652 shares during the last quarter. US Bancorp DE increased its position in shares of Vital Farms by 36.2% in the first quarter. US Bancorp DE now owns 1,929 shares of the company's stock valued at $59,000 after acquiring an additional 513 shares during the last quarter. CWM LLC increased its position in shares of Vital Farms by 43.2% in the first 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 stake in shares of Vital Farms in the first quarter valued at about $112,000. Finally, Comerica Bank increased its position in shares of Vital Farms by 63.2% in the first quarter. Comerica Bank now owns 4,049 shares of the company's stock valued at $123,000 after acquiring an additional 1,568 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company's stock.

Vital Farms Stock Performance

Shares of NASDAQ:VITL traded down $0.31 during trading on Wednesday, reaching $47.10. 944,451 shares of the stock were exchanged, compared to its average volume of 1,015,566. Vital Farms, Inc. has a 12 month low of $27.91 and a 12 month high of $53.13. The firm has a market cap of $2.10 billion, a PE ratio of 42.05 and a beta of 0.93. The stock has a 50-day moving average price of $43.21 and a 200-day moving average price of $36.61. The company has a current ratio of 2.48, a quick ratio of 2.10 and a debt-to-equity ratio of 0.02.

Vital Farms (NASDAQ:VITL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (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 analysts' expectations of $170.28 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business's revenue was up 25.4% on a year-over-year basis. Vital Farms has set its FY 2025 guidance at EPS. Research analysts expect that Vital Farms, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VITL shares. Stifel Nicolaus lifted their target price on Vital Farms from $44.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, August 8th. DA Davidson lifted their target price on Vital Farms from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Lake Street Capital set a $60.00 price target on Vital Farms and gave the stock a "buy" rating in a research report on Friday, August 8th. BMO Capital Markets boosted their price target on Vital Farms from $50.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Telsey Advisory Group boosted their price target on Vital Farms from $46.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $49.80.

Insider Activity at Vital Farms

In related news, insider Matthew Ohayer sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $50.96, for a total value of $5,096,000.00. Following the completion of the sale, the insider directly owned 6,482,070 shares in the company, valued at approximately $330,326,287.20. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Russell Diez-Canseco sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $46.11, for a total value of $770,037.00. Following the completion of the sale, the chief executive officer owned 702,476 shares of the company's stock, valued at approximately $32,391,168.36. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 448,901 shares of company stock valued at $21,887,152. 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.