Vital Farms, Inc. (NASDAQ:VITL) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its holdings in Vital Farms, Inc. (NASDAQ:VITL) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,139 shares of the company’s stock after selling 127,806 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Vital Farms were worth $22,555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VITL. Brown Brothers Harriman & Co. acquired a new stake in Vital Farms in the third quarter worth about $35,000. 1620 Investment Advisors Inc. acquired a new position in Vital Farms during the 2nd quarter valued at approximately $42,000. CWM LLC raised its holdings in shares of Vital Farms by 162.9% in the second quarter. CWM LLC now owns 1,057 shares of the company’s stock worth $49,000 after buying an additional 655 shares during the last quarter. Quarry LP raised its holdings in shares of Vital Farms by 180.4% in the second quarter. Quarry LP now owns 1,290 shares of the company’s stock worth $60,000 after buying an additional 830 shares during the last quarter. Finally, nVerses Capital LLC lifted its stake in shares of Vital Farms by 66.7% during the second quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $94,000 after buying an additional 800 shares during the period. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vital Farms

In other news, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $39.09, for a total transaction of $938,160.00. Following the transaction, the insider now owns 7,194,777 shares in the company, valued at $281,243,832.93. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Russell Diez-Canseco sold 44,653 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the completion of the sale, the chief executive officer now directly owns 537,349 shares of the company’s stock, valued at approximately $21,531,574.43. The trade was a 7.67 % decrease in their position. The disclosure for this sale can be found here. 27.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

VITL has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on Vital Farms from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, November 11th. DA Davidson raised their price objective on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen decreased their target price on Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Vital Farms Stock Performance

NASDAQ VITL opened at $37.57 on Monday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 33.54 and a beta of 0.93. The stock has a 50-day simple moving average of $34.85 and a two-hundred day simple moving average of $36.41. 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, Inc. has a fifty-two week low of $14.14 and a fifty-two week high of $48.41.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $145.00 million during the quarter, compared to the consensus estimate of $145.27 million. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. Vital Farms’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. On average, equities analysts forecast that Vital Farms, Inc. will post 1.11 earnings per share for the current year.

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.