Algert Global LLC Reduces Position in Vital Farms, Inc. (NASDAQ:VITL)

Algert Global LLC trimmed its stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 17.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,158 shares of the company's stock after selling 30,334 shares during the period. Algert Global LLC owned approximately 0.34% of Vital Farms worth $5,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Vital Farms by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 253,434 shares of the company's stock valued at $8,888,000 after buying an additional 14,426 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Vital Farms during the third quarter valued at $301,000. Advisors Asset Management Inc. lifted its holdings in Vital Farms by 25.7% in the third quarter. Advisors Asset Management Inc. now owns 16,793 shares of the company's stock valued at $589,000 after acquiring an additional 3,429 shares during the period. Global Alpha Capital Management Ltd. boosted its position in Vital Farms by 16.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 58,193 shares of the company's stock worth $2,041,000 after purchasing an additional 8,214 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Vital Farms by 882.6% during the 3rd quarter. Quest Partners LLC now owns 20,320 shares of the company's stock valued at $713,000 after purchasing an additional 18,252 shares during the period. Institutional investors own 98.59% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VITL. DA Davidson increased their price objective on shares of Vital Farms from $44.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. TD Cowen dropped their price target on shares of Vital Farms from $46.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Stifel Nicolaus reduced their price objective on Vital Farms from $42.00 to $34.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Finally, Jefferies Financial Group lowered their target price on Vital Farms from $45.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.20.

Vital Farms Price Performance

Shares of Vital Farms stock traded up $1.83 during trading hours on Monday, hitting $32.27. The company's stock had a trading volume of 2,209,112 shares, compared to its average volume of 805,357. Vital Farms, Inc. has a 12-month low of $12.44 and a 12-month high of $48.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. The company has a market cap of $1.41 billion, a PE ratio of 28.81 and a beta of 0.97. The business has a 50 day moving average price of $34.75 and a two-hundred day moving average price of $36.79.

Vital Farms (NASDAQ:VITL - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $145.27 million. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%. Vital Farms's revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. Analysts expect that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal 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.