Vital Farms (NASDAQ:VITL) Now Covered by Analysts at Craig Hallum

Craig Hallum began coverage on shares of Vital Farms (NASDAQ:VITL) in a research note released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $50.00 target price on the stock.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, November 11th. TD Cowen dropped their price target on Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, DA Davidson upped their price objective on Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Vital Farms Stock Up 2.5 %

Shares of VITL stock opened at $39.69 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. The firm’s 50-day moving average is $34.84 and its 200-day moving average is $36.39. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 35.44 and a beta of 0.93. Vital Farms has a 52-week low of $14.16 and a 52-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 the consensus estimate of $0.14 by $0.02. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $145.27 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Sell-side analysts predict that Vital Farms will post 1.11 EPS for the current year.

Insider Transactions at Vital Farms

In other news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $39.09, for a total transaction of $938,160.00. Following the sale, the insider now directly owns 7,194,777 shares of the company’s stock, valued at approximately $281,243,832.93. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Russell Diez-Canseco sold 44,728 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.66, for a total value of $1,684,456.48. Following the completion of the transaction, the chief executive officer now directly owns 613,797 shares of the company’s stock, valued at $23,115,595.02. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,381 shares of company stock valued at $4,411,862. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Vital Farms

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in shares of Vital Farms in the 3rd quarter valued at about $16,464,000. Millennium Management LLC raised its stake in Vital Farms by 651.3% during the 2nd quarter. Millennium Management LLC now owns 494,153 shares of the company’s stock worth $23,112,000 after buying an additional 428,382 shares during the period. Emerald Advisers LLC increased its stake in Vital Farms by 106.8% during the 3rd quarter. Emerald Advisers LLC now owns 706,440 shares of the company’s stock valued at $24,775,000 after purchasing an additional 364,837 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Vital Farms by 73.0% during the 2nd quarter. Renaissance Technologies LLC now owns 784,153 shares of the company’s stock valued at $36,675,000 after purchasing an additional 331,000 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Vital Farms by 73.6% in the second quarter. Acadian Asset Management LLC now owns 679,504 shares of the company’s stock valued at $31,766,000 after purchasing an additional 288,039 shares during the last quarter. 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.