Envestnet Asset Management Inc. Boosts Position in Vital Farms, Inc. (NASDAQ:VITL)

Envestnet Asset Management Inc. raised its stake in Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,083 shares of the company's stock after purchasing an additional 11,730 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Vital Farms worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Vital Farms by 417.8% in the 4th quarter. Wellington Management Group LLP now owns 2,431,024 shares of the company's stock worth $91,625,000 after buying an additional 1,961,550 shares during the last quarter. Vanguard Group Inc. boosted its stake in Vital Farms by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 2,236,848 shares of the company's stock valued at $84,307,000 after acquiring an additional 87,980 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Vital Farms by 78.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,171,950 shares of the company's stock worth $44,172,000 after purchasing an additional 516,139 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Vital Farms by 10.4% during the fourth quarter. William Blair Investment Management LLC now owns 955,895 shares of the company's stock worth $36,028,000 after purchasing an additional 89,772 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Vital Farms by 30.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 905,354 shares of the company's stock valued at $34,123,000 after purchasing an additional 208,951 shares during the last quarter. 98.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen boosted their target price on Vital Farms from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Morgan Stanley decreased their price objective on shares of Vital Farms from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Telsey Advisory Group reissued an "outperform" rating and set a $52.00 target price on shares of Vital Farms in a research report on Thursday, March 13th. Stifel Nicolaus raised shares of Vital Farms from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a report on Friday, February 28th. Finally, DA Davidson lowered their price objective on shares of Vital Farms from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $44.71.

Vital Farms Stock Performance

Shares of Vital Farms stock traded up $0.37 during trading on Wednesday, hitting $34.20. 228,561 shares of the company's stock were exchanged, compared to its average volume of 1,037,673. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 30.54 and a beta of 0.96. The business has a 50-day simple moving average of $32.11 and a 200-day simple moving average of $35.31. Vital Farms, Inc. has a 52-week low of $24.87 and a 52-week high of $48.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.08. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The business had revenue of $165.99 million during the quarter, compared to analyst estimates of $160.32 million. On average, research analysts forecast that Vital Farms, Inc. will post 1.11 EPS for the current year.

Insider Activity

In related news, CEO Russell Diez-Canseco sold 45,124 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $33.69, for a total value of $1,520,227.56. Following the completion of the transaction, the chief executive officer now owns 703,736 shares of the company's stock, valued at approximately $23,708,865.84. This represents a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Ohayer sold 4,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $31.39, for a total value of $125,560.00. Following the transaction, the insider now owns 6,966,890 shares in the company, valued at $218,690,677.10. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,124 shares of company stock valued at $3,019,308 in the last three months. 27.60% of the stock is currently owned by corporate insiders.

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.