Vital Farms, Inc. (NASDAQ:VITL) Receives $39.20 Average Price Target from Brokerages

Shares of Vital Farms, Inc. (NASDAQ:VITL) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $39.20.

A number of brokerages have commented on VITL. Jefferies Financial Group cut their price objective 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. DA Davidson boosted their price target on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen reduced their price target on Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Vital Farms Stock Performance

Shares of NASDAQ:VITL opened at $37.57 on Friday. The business’s 50-day simple moving average is $34.85 and its 200 day simple moving average is $36.44. The company has a market cap of $1.65 billion, a P/E ratio of 33.54 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. Vital Farms has a one year low of $14.14 and a one year high of $48.41.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $145.27 million. During the same quarter last year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 31.3% on a year-over-year basis. On average, sell-side analysts forecast that Vital Farms will post 1.11 earnings per share for the current fiscal year.

Insider Transactions at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of Vital Farms 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 completion of the transaction, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. The trade was a 7.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of Vital Farms by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 372,583 shares of the company’s stock worth $13,066,000 after acquiring an additional 34,412 shares during the period. Geode Capital Management LLC raised its holdings in shares of Vital Farms by 4.3% during the third quarter. Geode Capital Management LLC now owns 749,659 shares of the company’s stock valued at $26,296,000 after buying an additional 31,187 shares during the last quarter. Vestcor Inc acquired a new position in shares of Vital Farms during the third quarter worth approximately $848,000. Barclays PLC grew its holdings in Vital Farms by 57.3% in the 3rd quarter. Barclays PLC now owns 95,444 shares of the company’s stock worth $3,347,000 after buying an additional 34,758 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Vital Farms in the 3rd quarter valued at approximately $203,000. 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.