Vital Farms (NASDAQ:VITL) Price Target Raised to $50.00

Key Points

• Telsey Advisory Group has raised the price target for Vital Farms (NASDAQ:VITL) from $46.00 to $50.00, suggesting a potential upside of 14.00% from the current price.
• The company's recent quarterly earnings report showed a 25.4% year-over-year increase in revenue, totaling $184.77 million, and earnings per share (EPS) of $0.36, surpassing expectations.
• Vital Farms has a consensus rating of "Buy" from nine research analysts, reflecting robust support for its market performance and growth potential.

Vital Farms (NASDAQ:VITL - Get Free Report) had its target price hoisted by stock analysts at Telsey Advisory Group from $46.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Telsey Advisory Group's price target would suggest a potential upside of 14.00% from the company's current price.

VITL has been the subject of a number of other research reports. BMO Capital Markets raised Vital Farms to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho initiated coverage on shares of Vital Farms in a research report on Tuesday, July 8th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Morgan Stanley lowered their price target on shares of Vital Farms from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vital Farms currently has a consensus rating of "Buy" and a consensus price target of $44.44.

Vital Farms Stock Up 17.6%

Shares of VITL stock opened at $43.86 on Friday. The stock's 50 day simple moving average is $36.19 and its 200 day simple moving average is $34.95. Vital Farms has a twelve month low of $27.91 and a twelve month high of $45.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 3.35. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 39.16 and a beta of 0.94.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.09. Vital Farms had a net margin of 8.26% and a return on equity of 19.53%. The business had revenue of $184.77 million during the quarter, compared to analysts' expectations of $170.28 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm's quarterly revenue was up 25.4% on a year-over-year basis. As a group, research analysts predict that Vital Farms will post 1.11 EPS for the current year.

Insider Activity at Vital Farms

In related news, CFO Thilo Wrede sold 1,200 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $38.97, for a total transaction of $46,764.00. Following the completion of the sale, the chief financial officer directly owned 56,187 shares in the company, valued at $2,189,607.39. This represents a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Ohayer sold 5,000 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $40.34, for a total transaction of $201,700.00. Following the completion of the transaction, the insider directly owned 6,872,070 shares of the company's stock, valued at $277,219,303.80. This trade represents a 0.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,400 shares of company stock worth $2,413,630 in the last quarter. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of Vital Farms

Several hedge funds and other institutional investors have recently made changes to their positions in VITL. LPL Financial LLC grew its position in shares of Vital Farms by 46.9% in the 4th quarter. LPL Financial LLC now owns 17,414 shares of the company's stock valued at $656,000 after buying an additional 5,561 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Vital Farms by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 761,380 shares of the company's stock worth $28,703,000 after acquiring an additional 11,721 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Vital Farms by 18.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 75,083 shares of the company's stock worth $2,830,000 after acquiring an additional 11,730 shares during the period. Invesco Ltd. boosted its holdings in Vital Farms by 12.3% in the fourth quarter. Invesco Ltd. now owns 229,179 shares of the company's stock valued at $8,638,000 after acquiring an additional 25,028 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Vital Farms during the 4th quarter valued at approximately $10,043,000. 98.59% of the stock is currently owned by institutional investors.

Vital Farms Company 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.

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