Wellington Management Group LLP Takes $16.46 Million Position in Vital Farms, Inc. (NASDAQ:VITL)

Wellington Management Group LLP bought a new position 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 bought 469,474 shares of the company's stock, valued at approximately $16,464,000. Wellington Management Group LLP owned about 1.07% of Vital Farms as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Vital Farms during the third quarter worth about $35,000. 1620 Investment Advisors Inc. bought a new stake in Vital Farms in the second quarter worth about $42,000. CWM LLC boosted its stake in Vital Farms by 162.9% in the second quarter. CWM LLC now owns 1,057 shares of the company's stock valued at $49,000 after acquiring an additional 655 shares during the last quarter. Quarry LP grew its position in shares of Vital Farms by 180.4% during the 2nd quarter. Quarry LP now owns 1,290 shares of the company's stock valued at $60,000 after acquiring an additional 830 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of Vital Farms by 66.7% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $94,000 after purchasing an additional 800 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on VITL. TD Cowen dropped their price objective on Vital Farms from $46.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. DA Davidson upped their price target on Vital Farms from $44.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group decreased their price objective on Vital Farms from $45.00 to $41.00 and set a "buy" rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.20.

Vital Farms Stock Performance

Shares of NASDAQ VITL traded up $0.58 during mid-day trading on Friday, hitting $37.57. The company had a trading volume of 892,216 shares, compared to its average volume of 1,086,335. The company has a current ratio of 3.24, a quick ratio of 2.81 and a debt-to-equity ratio of 0.04. Vital Farms, Inc. has a 1 year low of $14.14 and a 1 year high of $48.41. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 33.54 and a beta of 0.93. The stock's 50-day moving average price is $34.85 and its 200-day moving average price is $36.44.

Vital Farms (NASDAQ:VITL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%. The company had revenue of $145.00 million during the quarter, compared to analysts' expectations of $145.27 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. Vital Farms's revenue for the quarter was up 31.3% on a year-over-year basis. On average, sell-side analysts forecast that Vital Farms, Inc. will post 1.11 earnings per share for the current year.

Insiders Place Their Bets

In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction that occurred 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 transaction, the insider now directly owns 7,194,777 shares of the company's stock, valued at approximately $281,243,832.93. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Russell Diez-Canseco sold 44,653 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 27.60% of the company's stock.

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.