Franklin Resources Inc. Has $13.07 Million Holdings in Vital Farms, Inc. (NASDAQ:VITL)

Franklin Resources Inc. boosted its position in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 372,583 shares of the company's stock after purchasing an additional 34,412 shares during the quarter. Franklin Resources Inc. owned about 0.85% of Vital Farms worth $13,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Vital Farms by 4.3% during the third quarter. Geode Capital Management LLC now owns 749,659 shares of the company's stock worth $26,296,000 after buying an additional 31,187 shares during the last quarter. Vestcor Inc acquired a new stake in Vital Farms during the 3rd quarter worth $848,000. Barclays PLC raised its position in shares of Vital Farms by 57.3% during the 3rd quarter. Barclays PLC now owns 95,444 shares of the company's stock valued at $3,347,000 after acquiring an additional 34,758 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Vital Farms during the 3rd quarter valued at $203,000. Finally, Wellington Management Group LLP acquired a new position in shares of Vital Farms in the 3rd quarter valued at $16,464,000. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VITL shares. Jefferies Financial Group decreased their price objective 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 boosted their target price on Vital Farms from $44.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Craig Hallum started coverage on Vital Farms in a research note on Friday. They issued a "buy" rating and a $50.00 price target for the company. Finally, TD Cowen reduced their price objective 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Insider Activity

In other news, CEO Russell Diez-Canseco sold 44,653 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.07, for a total value 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 $21,531,574.43. This trade represents a 7.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $938,160.00. Following the transaction, the insider now directly owns 7,194,777 shares in the company, valued at $281,243,832.93. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,381 shares of company stock valued at $4,411,862 in the last quarter. Company insiders own 27.60% of the company's stock.

Vital Farms Stock Up 2.5 %

Shares of VITL stock traded up $0.95 during trading hours on Friday, hitting $39.69. 1,902,102 shares of the company were exchanged, compared to its average volume of 820,643. Vital Farms, Inc. has a 52 week low of $14.16 and a 52 week high of $48.41. The company has a current ratio of 3.24, a quick ratio of 2.81 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $34.83 and a two-hundred day moving average of $36.37. The company has a market capitalization of $1.74 billion, a PE ratio of 35.44 and a beta of 0.93.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.16 earnings per share (EPS) 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 analysts' expectations of $145.27 million. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The company's revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Analysts anticipate that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

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.