Vital Farms (NASDAQ:VITL) Announces Earnings Results

Vital Farms (NASDAQ:VITL - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02, Briefing.com reports. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The company had revenue of $145.00 million during the quarter, compared to the consensus estimate of $145.27 million. During the same quarter last year, the firm posted $0.10 EPS. The company's quarterly revenue was up 31.3% on a year-over-year basis. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Down 1.5 %

Shares of VITL traded down $0.47 on Friday, reaching $30.91. The company's stock had a trading volume of 1,388,182 shares, compared to its average volume of 776,472. Vital Farms has a twelve month low of $11.55 and a twelve month high of $48.41. The stock has a market capitalization of $1.33 billion, a PE ratio of 29.16 and a beta of 0.97. The company has a current ratio of 3.50, a quick ratio of 3.03 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $35.01 and a 200-day moving average of $36.65.

Insiders Place Their Bets

In other news, insider Matthew Ohayer sold 24,000 shares of the firm'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 owns 7,194,777 shares in the company, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 7,194,777 shares of the company's stock, valued at approximately $281,243,832.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Russell Diez-Canseco sold 44,653 shares of the firm's stock in a transaction 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 owns 537,349 shares in the company, valued at approximately $21,531,574.43. This trade represents a 0.00 % 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VITL shares. DA Davidson lifted their price target on shares of Vital Farms from $44.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Stifel Nicolaus reduced their target price 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, TD Cowen dropped their price target on Vital Farms from $46.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.75.

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.