Brokerages Set Vital Farms, Inc. (NASDAQ:VITL) PT at $34.60

Shares of Vital Farms, Inc. (NASDAQ:VITL) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.60.

VITL has been the topic of a number of recent analyst reports. TD Cowen raised Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Friday, August 9th. Stifel Nicolaus decreased their target price on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research note on Friday, August 9th.

Insider Activity

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,381 shares of Vital Farms stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.71, for a total value of $1,939,893.51. Following the sale, the chief executive officer now owns 427,839 shares of the company’s stock, valued at approximately $18,700,842.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Russell Diez-Canseco sold 44,381 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.71, for a total transaction of $1,939,893.51. Following the sale, the chief executive officer now owns 427,839 shares of the company’s stock, valued at $18,700,842.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction on Friday, July 19th. The stock was sold at an average price of $39.58, for a total transaction of $949,920.00. Following the completion of the transaction, the insider now directly owns 7,266,777 shares of the company’s stock, valued at $287,619,033.66. The disclosure for this sale can be found here. Company insiders own 30.20% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

Large investors have recently added to or reduced their stakes in the stock. Cim LLC purchased a new position in shares of Vital Farms in the 2nd quarter worth approximately $326,000. Cetera Investment Advisers lifted its stake in Vital Farms by 108.7% in the second quarter. Cetera Investment Advisers now owns 58,079 shares of the company’s stock worth $2,716,000 after purchasing an additional 30,255 shares during the last quarter. Quarry LP boosted its position in shares of Vital Farms by 180.4% during the second quarter. Quarry LP now owns 1,290 shares of the company’s stock valued at $60,000 after buying an additional 830 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Vital Farms during the second quarter valued at approximately $362,000. Finally, Millennium Management LLC grew its stake in shares of Vital Farms by 651.3% during the second quarter. Millennium Management LLC now owns 494,153 shares of the company’s stock valued at $23,112,000 after buying an additional 428,382 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

Vital Farms Trading Up 0.9 %

Shares of NASDAQ:VITL opened at $35.13 on Tuesday. The stock has a 50 day moving average of $33.00 and a 200 day moving average of $33.95. The company has a market cap of $1.48 billion, a PE ratio of 41.33 and a beta of 0.96. Vital Farms has a 12-month low of $10.41 and a 12-month high of $48.41. The company has a current ratio of 3.50, a quick ratio of 3.03 and a debt-to-equity ratio of 0.04.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $147.39 million during the quarter, compared to analyst estimates of $138.41 million. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The company’s revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, equities research analysts expect that Vital Farms will post 1.11 EPS for the current year.

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.