Vital Farms (NASDAQ:VITL) Trading Up 8.7% - Here's Why

Vital Farms, Inc. (NASDAQ:VITL - Get Free Report)'s share price rose 8.7% during mid-day trading on Friday . The stock traded as high as $32.74 and last traded at $33.03. Approximately 527,828 shares traded hands during trading, a decline of 45% from the average daily volume of 964,994 shares. The stock had previously closed at $30.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VITL shares. William Blair reiterated an "outperform" rating on shares of Vital Farms in a research note on Friday, February 28th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of Vital Farms in a research report on Friday, February 28th. Jefferies Financial Group reduced their target price on shares of Vital Farms from $45.00 to $41.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Craig Hallum assumed coverage on shares of Vital Farms in a report on Friday, December 20th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Stifel Nicolaus upgraded Vital Farms from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $44.57.

Vital Farms Price Performance

The business's 50 day moving average is $38.21 and its two-hundred day moving average is $35.69. 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 capitalization of $1.46 billion, a PE ratio of 29.37 and a beta of 0.95.

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

Insider Activity at Vital Farms

In other news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $38.19, for a total transaction of $916,560.00. Following the completion of the sale, the insider now owns 7,038,890 shares in the company, valued at approximately $268,815,209.10. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Russell Diez-Canseco sold 44,728 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was 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 approximately $23,115,595.02. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,202 shares of company stock valued at $7,855,957. Corporate insiders own 27.60% of the company's stock.

Institutional Investors Weigh In On Vital Farms

Several hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Vital Farms during the 3rd quarter valued at $35,000. CIBC Private Wealth Group LLC raised its position in Vital Farms by 152.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company's stock valued at $35,000 after purchasing an additional 540 shares in the last quarter. US Bancorp DE lifted its stake in Vital Farms by 160.3% during the fourth quarter. US Bancorp DE now owns 1,416 shares of the company's stock worth $53,000 after purchasing an additional 872 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Vital Farms during the fourth quarter worth about $59,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Vital Farms in the 4th quarter worth about $62,000. 98.59% of the stock is currently owned by institutional investors.

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.

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