Vital Farms (NASDAQ:VITL) Major Shareholder Matthew Ohayer Sells 3,550 Shares of Stock

Key Points

• Major shareholder Matthew O’Hayer sold 3,550 Vital Farms shares at an average of $9.53, receiving about $33,832; he retained 6.33 million shares. The article also reports a separate sale of 66,200 shares at $9.68.
• Vital Farms’ latest quarter missed earnings expectations, reporting a loss of $0.15 per share versus the expected loss of $0.11. Revenue was $182.16 million, slightly above forecasts but down 8.4% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $16.58. Shares were trading at $10.01 in the report, after falling 0.4% that day.

Vital Farms, Inc. (NASDAQ:VITL - Get Free Report) major shareholder Matthew O'Hayer sold 3,550 shares of the business's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $9.53, for a total transaction of $33,831.50. Following the sale, the insider owned 6,328,170 shares of the company's stock, valued at $60,307,460.10. This represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Matthew Ohayer also recently made the following trade(s):

• On Monday, November 9th, Matthew O'Hayer sold 66,200 shares of Vital Farms stock. The shares were sold at an average price of $9.68, for a total transaction of $640,816.00.

Vital Farms Stock Down 0.4%

Shares of NASDAQ VITL traded down $0.04 during mid-day trading on Tuesday, reaching $10.01. The company had a trading volume of 1,767,320 shares, compared to its average volume of 2,279,418. The firm has a 50 day simple moving average of $9.66 and a two-hundred day simple moving average of $13.59. Vital Farms, Inc. has a 52-week low of $7.95 and a 52-week high of $36.10. The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.42. The stock has a market cap of $429.83 million, a P/E ratio of -18.20 and a beta of 1.16.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). Vital Farms had a negative net margin of 3.03% and a negative return on equity of 3.74%. The company had revenue of $182.16 million during the quarter, compared to analysts' expectations of $181.78 million. During the same period last year, the firm earned $0.36 earnings per share. Vital Farms's revenue was down 8.4% on a year-over-year basis. Sell-side analysts predict that Vital Farms, Inc. will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Vital Farms

A number of large investors have recently made changes to their positions in the stock. Freestone Grove Partners LP purchased a new position in Vital Farms in the 2nd quarter valued at approximately $26,000. Frazier Financial Advisors LLC purchased a new stake in Vital Farms during the second quarter worth $27,000. GAMMA Investing LLC boosted its position in Vital Farms by 196.7% during the second quarter. GAMMA Investing LLC now owns 3,367 shares of the company's stock worth $39,000 after purchasing an additional 2,232 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Vital Farms in the second quarter valued at $42,000. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in Vital Farms by 77.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,697 shares of the company's stock valued at $44,000 after purchasing an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 98.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen reduced their price objective on Vital Farms from $11.00 to $8.00 and set a "hold" rating for the company in a research note on Tuesday, October 13th. Benchmark upgraded shares of Vital Farms from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Craig Hallum upgraded shares of Vital Farms from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research note on Tuesday, November 3rd. Stifel Nicolaus lowered their price objective on shares of Vital Farms from $11.00 to $9.00 and set a "hold" rating on the stock in a research report on Thursday, October 15th. Finally, Weiss Ratings lowered shares of Vital Farms from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 29th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vital Farms currently has a consensus rating of "Hold" and a consensus price target of $16.58.

About Vital Farms

Vital Farms, Inc. is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its offerings include pasture-raised eggs, butter, hard-boiled eggs and ghee, sold under the Vital Farms brand. Founded in 2007, the company works with a network of family farms and focuses on animal welfare, outdoor access and supply-chain transparency. Vital Farms products are distributed primarily through grocery retailers and other food channels across the United States.

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