Franklin Resources Inc. Lowers Position in Vital Farms, Inc. (NASDAQ:VITL)

Franklin Resources Inc. cut its stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 345,073 shares of the company's stock after selling 27,510 shares during the quarter. Franklin Resources Inc. owned 0.79% of Vital Farms worth $13,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB acquired a new stake in shares of Vital Farms in the 4th quarter worth $2,765,000. JPMorgan Chase & Co. raised its holdings in Vital Farms by 38.9% during the third quarter. JPMorgan Chase & Co. now owns 266,398 shares of the company's stock worth $9,343,000 after purchasing an additional 74,593 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Vital Farms by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 253,434 shares of the company's stock valued at $8,888,000 after purchasing an additional 14,426 shares during the period. Proficio Capital Partners LLC purchased a new stake in Vital Farms in the 4th quarter valued at approximately $699,000. Finally, Barclays PLC increased its position in Vital Farms by 57.3% during the 3rd quarter. Barclays PLC now owns 95,444 shares of the company's stock worth $3,347,000 after purchasing an additional 34,758 shares during the period. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Russell Diez-Canseco sold 44,628 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.24, for a total transaction of $1,885,086.72. Following the sale, the chief executive officer now owns 668,202 shares in the company, valued at approximately $28,224,852.48. This trade represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joanne Bal sold 28,246 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $45.10, for a total value of $1,273,894.60. Following the completion of the transaction, the insider now owns 59,371 shares of the company's stock, valued at $2,677,632.10. This trade represents a 32.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,474 shares of company stock worth $5,969,700. 27.60% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several analysts have recently commented on VITL shares. William Blair reissued an "outperform" rating on shares of Vital Farms in a report on Friday, February 28th. Craig Hallum started coverage on Vital Farms in a report on Friday, December 20th. They issued a "buy" rating and a $50.00 target price for the company. TD Cowen upped their price target on shares of Vital Farms from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reduced their price objective on shares of Vital Farms from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Finally, Stifel Nicolaus raised shares of Vital Farms from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a report on Friday, February 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $42.00.

Vital Farms Price Performance

VITL traded up $0.92 during midday trading on Friday, reaching $34.01. 752,805 shares of the company's stock were exchanged, compared to its average volume of 1,033,021. Vital Farms, Inc. has a 1-year low of $24.52 and a 1-year high of $48.41. The stock has a market capitalization of $1.51 billion, a PE ratio of 30.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.24 and a quick ratio of 2.81. The business's 50-day moving average price is $32.62 and its 200 day moving average price is $35.60.

Vital Farms (NASDAQ:VITL - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.08. The firm had revenue of $165.99 million for the quarter, compared to analyst estimates of $160.32 million. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. As a group, equities analysts anticipate that Vital Farms, Inc. will post 1.11 EPS 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.