Vital Farms, Inc. (NASDAQ:VITL - Get Free Report) saw an uptick in trading volume on Friday after the company announced better than expected quarterly earnings. 935,864 shares changed hands during mid-day trading, an increase of 99% from the previous session's volume of 471,082 shares.The stock last traded at $36.22 and had previously closed at $37.97.
The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Vital Farms had a net margin of 5.42% and a return on equity of 14.22%. The company had revenue of $147.93 million during the quarter, compared to analysts' expectations of $139.87 million.
Analyst Ratings Changes
Several brokerages have issued reports on VITL. TheStreet raised shares of Vital Farms from a "c" rating to a "b-" rating in a report on Monday, March 18th. Lake Street Capital lifted their price target on shares of Vital Farms from $26.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Stifel Nicolaus lowered shares of Vital Farms from a "buy" rating to a "hold" rating and lifted their price target for the stock from $30.00 to $40.00 in a research note on Friday. TD Cowen lifted their price target on shares of Vital Farms from $19.00 to $37.00 and gave the stock a "hold" rating in a research note on Friday. Finally, William Blair initiated coverage on shares of Vital Farms in a research note on Wednesday, April 10th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Vital Farms presently has an average rating of "Moderate Buy" and a consensus target price of $29.60.
Read Our Latest Research Report on Vital Farms
Insider Buying and Selling at Vital Farms
In other Vital Farms news, CEO Russell Diez-Canseco sold 27,528 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.49, for a total transaction of $426,408.72. Following the completion of the sale, the chief executive officer now directly owns 223,568 shares of the company's stock, valued at $3,463,068.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Matthew Ohayer sold 16,000 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $22.95, for a total transaction of $367,200.00. Following the completion of the transaction, the chairman now owns 7,466,777 shares in the company, valued at $171,362,532.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Russell Diez-Canseco sold 27,528 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.49, for a total transaction of $426,408.72. Following the transaction, the chief executive officer now owns 223,568 shares of the company's stock, valued at approximately $3,463,068.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,860 shares of company stock valued at $5,873,046. Insiders own 30.20% of the company's stock.
Hedge Funds Weigh In On Vital Farms
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Vital Farms by 211.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,175 shares of the company's stock worth $97,000 after buying an additional 4,192 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vital Farms by 52.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,196 shares of the company's stock worth $95,000 after acquiring an additional 2,833 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Vital Farms during the fourth quarter valued at approximately $127,000. New York State Common Retirement Fund lifted its stake in shares of Vital Farms by 49.0% in the 4th quarter. New York State Common Retirement Fund now owns 10,169 shares of the company's stock valued at $160,000 after purchasing an additional 3,346 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Vital Farms in the 3rd quarter worth approximately $119,000. Institutional investors own 98.59% of the company's stock.
Vital Farms Trading Down 4.1 %
The company has a 50-day moving average price of $24.38 and a two-hundred day moving average price of $17.78. The stock has a market cap of $1.53 billion, a P/E ratio of 62.78 and a beta of 0.79. The company has a current ratio of 3.00, a quick ratio of 2.49 and a debt-to-equity ratio of 0.05.
About Vital Farms
(
Get Free Report)
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.
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