Vital Farms, Inc. $VITL Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 695,302 Vital Farms shares in the second quarter, worth approximately $8.1 million and representing about 1.62% of the company. Institutional investors collectively own 98.59% of VITL.
• Analyst sentiment is mixed, with five Buy, eight Hold and one Sell rating; the stock has an average rating of Hold and an average price target of $17.18.
• VITL opened at $9.95, well below its 52-week high of $45.15. Its latest quarter met EPS expectations at a loss of $0.47, while revenue of $166.03 million exceeded estimates but declined 10.2% year over year.

Bank of America Corp DE acquired a new stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 695,302 shares of the company's stock, valued at approximately $8,086,000. Bank of America Corp DE owned approximately 1.62% of Vital Farms as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VITL. Freestone Grove Partners LP acquired a new position in Vital Farms during the 2nd quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Vital Farms during the second quarter worth $27,000. GAMMA Investing LLC grew its holdings in shares of Vital Farms by 196.7% during the second quarter. GAMMA Investing LLC now owns 3,367 shares of the company's stock valued at $39,000 after buying an additional 2,232 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Vital Farms by 53.7% during the first quarter. Assetmark Inc. now owns 5,732 shares of the company's stock valued at $81,000 after buying an additional 2,002 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Vital Farms by 129.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,044 shares of the company's stock valued at $97,000 after acquiring an additional 1,716 shares during the period. 98.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VITL has been the subject of a number of research analyst reports. Weiss Ratings upgraded Vital Farms from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 25th. Benchmark upgraded Vital Farms from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. TD Cowen raised their price objective on Vital Farms from $10.00 to $11.00 and gave the company a "hold" rating in a report on Friday, August 7th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Vital Farms in a research note on Thursday, September 17th. Finally, Zacks Research raised Vital Farms from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.18.

Vital Farms Trading Down 1.4%

VITL opened at $9.95 on Friday. The stock has a market capitalization of $427.15 million, a PE ratio of -248.75 and a beta of 1.05. Vital Farms, Inc. has a one year low of $7.95 and a one year high of $45.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 1.10. The business's 50 day moving average price is $11.34 and its 200 day moving average price is $11.84.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, meeting the consensus estimate of ($0.47). The business had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.24 million. Vital Farms had a return on equity of 3.46% and a net margin of 0.02%.The company's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities research analysts expect that Vital Farms, Inc. will post -0.48 EPS for the current year.

Vital Farms Company Profile

Vital Farms, Inc is a food company focused on ethically produced pasture-raised eggs and other products. The company's offerings include pasture-raised eggs, butter, ghee and hard-boiled eggs, which are sold under the Vital Farms brand through grocery retailers and other distribution channels.

Founded in 2007, Vital Farms works with a network of family farms and emphasizes animal welfare, pasture access and supply-chain transparency. Its products are marketed primarily in the United States and are available through retail and foodservice channels.

The company is headquartered in Austin, Texas.

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