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 - Free Report) had its price target lifted by Telsey Advisory Group from $46.00 to $50.00 in a report published on Friday, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on VITL. BMO Capital Markets raised shares of Vital Farms to a "strong-buy" rating in a report on Tuesday, May 6th. Morgan Stanley dropped their price objective on shares of Vital Farms from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Mizuho started coverage on shares of Vital Farms in a report on Tuesday, July 8th. They set an "outperform" rating and a $45.00 price objective for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vital Farms has a consensus rating of "Buy" and an average price target of $48.20.

Vital Farms Stock Performance

NASDAQ:VITL traded down $0.21 during trading hours on Friday, reaching $45.94. The company had a trading volume of 675,766 shares, compared to its average volume of 992,064. The company has a current ratio of 2.48, a quick ratio of 2.10 and a debt-to-equity ratio of 0.02. Vital Farms has a 52 week low of $27.91 and a 52 week high of $46.40. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 40.98 and a beta of 0.94. The firm's 50 day moving average price is $36.75 and its 200-day moving average price is $34.85.

Vital Farms (NASDAQ:VITL - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.09. Vital Farms had a net margin of 7.84% and a return on equity of 18.40%. The business had revenue of $184.77 million during the quarter, compared to the consensus estimate of $170.28 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm's revenue was up 25.4% on a year-over-year basis. On average, analysts forecast that Vital Farms will post 1.11 EPS for the current year.

Insider Buying and Selling at Vital Farms

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

Institutional Investors Weigh In On Vital Farms

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Vital Farms by 35.7% in the 2nd quarter. American Century Companies Inc. now owns 1,687,869 shares of the company's stock worth $65,017,000 after purchasing an additional 444,402 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Vital Farms by 100.3% during the second quarter. Segall Bryant & Hamill LLC now owns 305,645 shares of the company's stock worth $11,773,000 after purchasing an additional 153,065 shares during the period. Rhumbline Advisers boosted its holdings in shares of Vital Farms by 29.8% during the second quarter. Rhumbline Advisers now owns 61,422 shares of the company's stock worth $2,366,000 after purchasing an additional 14,105 shares during the period. Legal & General Group Plc boosted its holdings in shares of Vital Farms by 12.9% during the second quarter. Legal & General Group Plc now owns 39,132 shares of the company's stock worth $1,507,000 after purchasing an additional 4,457 shares during the period. Finally, Swiss National Bank lifted its stake in Vital Farms by 6.3% in the second quarter. Swiss National Bank now owns 67,600 shares of the company's stock valued at $2,604,000 after acquiring an additional 4,000 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

About Vital Farms

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.