Vital Farms (NASDAQ:VITL) Sees Large Volume Increase – Here’s Why

Shares of Vital Farms, Inc. (NASDAQ:VITL) saw unusually-strong trading volume on Thursday . Approximately 759,657 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 752,867 shares.The stock last traded at $31.66 and had previously closed at $36.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus decreased their price objective on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen upgraded Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Vital Farms Price Performance

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 30.66 and a beta of 0.97. The company has a quick ratio of 3.03, a current ratio of 3.50 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $35.01 and its two-hundred day moving average is $36.58.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. Vital Farms had a return on equity of 22.77% and a net margin of 8.70%. The business had revenue of $147.39 million for the quarter, compared to analyst estimates of $138.41 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue was up 38.5% on a year-over-year basis. Equities research analysts anticipate that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

In other news, CEO Russell Diez-Canseco sold 44,653 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $39.09, for a total transaction of $938,160.00. Following the completion of the transaction, the insider now directly owns 7,194,777 shares of the company’s stock, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Russell Diez-Canseco sold 44,653 shares of Vital Farms stock in a transaction that occurred on Monday, October 14th. The shares were 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 owns 537,349 shares in the company, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.60% of the stock is owned by corporate insiders.

Institutional Trading of Vital Farms

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new position in Vital Farms in the second quarter valued at approximately $42,000. CWM LLC grew its position in shares of Vital Farms by 162.9% in the 2nd quarter. CWM LLC now owns 1,057 shares of the company’s stock valued at $49,000 after acquiring an additional 655 shares during the period. Quarry LP increased its stake in shares of Vital Farms by 180.4% during the 2nd quarter. Quarry LP now owns 1,290 shares of the company’s stock worth $60,000 after purchasing an additional 830 shares during the last quarter. nVerses Capital LLC lifted its stake in Vital Farms by 66.7% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $94,000 after purchasing an additional 800 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Vital Farms during the second quarter worth about $97,000. Institutional investors and hedge funds own 98.59% of the company’s stock.

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.