Vital Farms (NASDAQ:VITL) Trading 7.1% Higher After Strong Earnings

Vital Farms, Inc. (NASDAQ:VITL - Get Free Report) traded up 7.1% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $33.40 and last traded at $32.99. 2,140,477 shares traded hands during mid-day trading, an increase of 74% from the average session volume of 1,229,488 shares. The stock had previously closed at $30.79.

The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. The firm had revenue of $165.99 million for the quarter, compared to analysts' expectations of $160.32 million. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%.

Analyst Upgrades and Downgrades

VITL has been the subject of a number of research analyst reports. Stifel Nicolaus raised shares of Vital Farms from a "hold" rating to a "buy" rating and set a $44.00 price target for the company in a report on Friday. TD Cowen raised their price target on shares of Vital Farms from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on shares of Vital Farms from $45.00 to $41.00 and set a "buy" rating for the company in a report on Monday, November 11th. Craig Hallum initiated coverage on shares of Vital Farms in a report on Friday, December 20th. They issued a "buy" rating and a $50.00 price target for the company. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $52.00 price target on shares of Vital Farms in a report on Friday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $44.57.

Remove Ads

Insider Activity

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,728 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.66, for a total transaction of $1,684,456.48. Following the completion of the transaction, the chief executive officer now owns 613,797 shares in the company, valued at $23,115,595.02. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew Ohayer sold 24,000 shares of the company's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $38.19, for a total transaction of $916,560.00. Following the completion of the transaction, the insider now owns 7,038,890 shares of the company's stock, valued at approximately $268,815,209.10. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,202 shares of company stock valued at $7,855,957. Company insiders own 27.60% of the company's stock.

Institutional Trading of Vital Farms

Large investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in Vital Farms by 27.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,301 shares of the company's stock worth $291,000 after buying an additional 1,763 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Vital Farms during the 3rd quarter worth $1,798,000. Robeco Institutional Asset Management B.V. raised its position in Vital Farms by 4.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,857 shares of the company's stock worth $276,000 after buying an additional 329 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Vital Farms by 35.6% in the 3rd quarter. Principal Financial Group Inc. now owns 655,811 shares of the company's stock valued at $22,999,000 after purchasing an additional 172,249 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in shares of Vital Farms by 6.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 9,846 shares of the company's stock valued at $345,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company's stock.

Vital Farms Price Performance

The stock's fifty day moving average price is $38.38 and its 200-day moving average price is $35.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. The firm has a market cap of $1.36 billion, a PE ratio of 27.81 and a beta of 0.90.

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.