KLP Kapitalforvaltning AS Makes New Investment in Vital Farms, Inc. (NASDAQ:VITL)

KLP Kapitalforvaltning AS bought a new position in Vital Farms, Inc. (NASDAQ:VITL - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 14,800 shares of the company's stock, valued at approximately $558,000.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Vital Farms by 78.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,171,950 shares of the company's stock valued at $44,172,000 after acquiring an additional 516,139 shares during the last quarter. Wellington Management Group LLP bought a new stake in Vital Farms in the third quarter valued at approximately $16,464,000. Jupiter Asset Management Ltd. boosted its stake in shares of Vital Farms by 96.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 628,709 shares of the company's stock valued at $23,696,000 after purchasing an additional 308,425 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Vital Farms in the fourth quarter worth approximately $5,464,000. Finally, Impax Asset Management Group plc purchased a new position in shares of Vital Farms in the fourth quarter worth $4,711,000. 98.59% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Matthew Ohayer sold 4,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $31.39, for a total value of $125,560.00. Following the sale, the insider now directly owns 6,966,890 shares in the company, valued at approximately $218,690,677.10. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell Diez-Canseco sold 44,628 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $42.24, for a total value of $1,885,086.72. Following the transaction, the chief executive officer now owns 668,202 shares of the company's stock, valued at $28,224,852.48. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,474 shares of company stock worth $5,969,700 over the last 90 days. 27.60% of the stock is currently owned by insiders.

Vital Farms Stock Up 1.4 %

VITL traded up $0.46 during trading on Monday, reaching $32.69. The stock had a trading volume of 1,105,359 shares, compared to its average volume of 1,025,285. Vital Farms, Inc. has a one year low of $24.12 and a one year high of $48.41. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 29.19 and a beta of 0.96. 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 stock's 50 day moving average is $33.71 and its two-hundred day moving average is $35.68.

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

Analyst Ratings Changes

Several brokerages have weighed in on VITL. Craig Hallum assumed coverage on shares of Vital Farms in a research report on Friday, December 20th. They set a "buy" rating and a $50.00 price target for the company. Morgan Stanley began coverage on Vital Farms in a research note on Monday, March 24th. They issued an "overweight" rating and a $30.00 target price on the stock. TD Cowen increased their price objective on Vital Farms from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. DA Davidson reduced their target price on Vital Farms from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Stifel Nicolaus raised Vital Farms from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a research note on Friday, February 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vital Farms currently has an average rating of "Buy" and an average price target of $42.00.

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.