Point72 Asset Management L.P. Purchases New Position in Vital Farms, Inc. (NASDAQ:VITL)

Point72 Asset Management L.P. acquired a new stake in shares of Vital Farms, Inc. (NASDAQ:VITL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 50,996 shares of the company's stock, valued at approximately $1,788,000. Point72 Asset Management L.P. owned about 0.12% of Vital Farms at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Vital Farms by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,510 shares of the company's stock worth $617,000 after buying an additional 1,402 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Vital Farms during the 1st quarter worth approximately $481,000. CWM LLC increased its stake in shares of Vital Farms by 162.9% during the second quarter. CWM LLC now owns 1,057 shares of the company's stock worth $49,000 after purchasing an additional 655 shares during the period. SG Americas Securities LLC bought a new position in Vital Farms during the 2nd quarter worth $2,300,000. Finally, Sequoia Financial Advisors LLC bought a new position in Vital Farms in the second quarter valued at approximately $417,000. Institutional investors and hedge funds own 98.59% of the company's stock.

Wall Street Analyst Weigh In

VITL has been the topic of several recent research reports. DA Davidson lifted their target price on shares of Vital Farms from $44.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. TD Cowen reduced their price objective on Vital Farms from $46.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.20.

Insiders Place Their Bets

In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of the firm's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $39.09, for a total transaction of $938,160.00. Following the completion of the transaction, the insider now directly owns 7,194,777 shares of the company's stock, valued at $281,243,832.93. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 27.60% of the company's stock.

Vital Farms Price Performance

VITL stock traded up $1.05 during mid-day trading on Tuesday, hitting $38.02. The company had a trading volume of 566,006 shares, compared to its average volume of 812,984. The company has a 50-day moving average price of $34.72 and a 200 day moving average price of $36.49. Vital Farms, Inc. has a 12-month low of $14.14 and a 12-month high of $48.41. The company has a quick ratio of 2.81, a current ratio of 3.24 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 33.01 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 for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $145.27 million. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The business's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, research analysts anticipate that Vital Farms, Inc. will post 1.11 earnings per share for the current 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.