Vital Farms, Inc. $VITL Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Vital Farms stake by 56.9% in the first quarter, selling 667,224 shares and leaving it with 506,039 shares worth about $7.1 million.
• Vital Farms reported mixed quarterly results: revenue rose 15.4% year over year to $187.16 million, but EPS came in at -$0.03 versus expectations for $0.09.
• Sentiment around the stock has cooled, with several analysts downgrading the shares and the consensus rating sitting at Hold; meanwhile, insider buying has continued, including purchases by Stephanie Coon and Director Glenda J. Flanagan.

Pictet Asset Management Holding SA decreased its stake in Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 56.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,039 shares of the company's stock after selling 667,224 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.13% of Vital Farms worth $7,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VITL. Wasatch Advisors LP boosted its position in Vital Farms by 80.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,074,803 shares of the company's stock worth $79,921,000 after purchasing an additional 923,507 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Vital Farms during the 4th quarter worth approximately $25,534,000. Balyasny Asset Management L.P. increased its holdings in shares of Vital Farms by 466.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 503,894 shares of the company's stock valued at $16,094,000 after purchasing an additional 641,394 shares in the last quarter. Divisadero Street Capital Management LP increased its holdings in shares of Vital Farms by 131.7% during the 3rd quarter. Divisadero Street Capital Management LP now owns 993,338 shares of the company's stock valued at $40,876,000 after purchasing an additional 564,711 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Vital Farms by 22.9% in 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 during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Vital Farms Price Performance

NASDAQ VITL opened at $12.76 on Friday. The business has a fifty day moving average price of $10.60 and a 200 day moving average price of $18.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.00 and a current ratio of 1.77. The company has a market cap of $546.77 million, a P/E ratio of 12.27 and a beta of 1.07. Vital Farms, Inc. has a one year low of $7.95 and a one year high of $53.13.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). Vital Farms had a return on equity of 14.47% and a net margin of 6.10%.The business had revenue of $187.16 million for the quarter, compared to analyst estimates of $182.40 million. During the same period last year, the firm earned $0.37 EPS. The company's revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts anticipate that Vital Farms, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Cowen downgraded shares of Vital Farms from a "buy" rating to a "hold" rating and lowered their price target for the stock from $25.00 to $16.00 in a report on Wednesday, April 8th. Weiss Ratings cut shares of Vital Farms from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Morgan Stanley set a $10.00 price objective on shares of Vital Farms in a research report on Friday, May 8th. Telsey Advisory Group lowered shares of Vital Farms from an "outperform" rating to a "market perform" rating and set a $11.00 target price on the stock. in a research note on Friday, May 8th. Finally, William Blair restated a "market perform" rating on shares of Vital Farms in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $24.08.

Insider Buying and Selling at Vital Farms

In other Vital Farms news, insider Stephanie Coon purchased 5,895 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $8.42 per share, for a total transaction of $49,635.90. Following the completion of the transaction, the insider owned 62,314 shares of the company's stock, valued at $524,683.88. The trade was a 10.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Glenda J. Flanagan acquired 6,100 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $8.33 per share, with a total value of $50,813.00. Following the purchase, the director owned 37,498 shares in the company, valued at $312,358.34. This represents a 19.43% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 38,700 shares of company stock valued at $320,864. Corporate insiders own 3.90% of the company's stock.

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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