Vital Farms (NASDAQ:VITL) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Vital Farms (NASDAQ:VITL) posted its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02, Briefing.com reports. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $145.27 million. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The firm’s revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Price Performance

Shares of Vital Farms stock traded down $0.34 during mid-day trading on Friday, reaching $31.04. 1,078,066 shares of the stock traded hands, compared to its average volume of 775,044. The company has a quick ratio of 3.03, a current ratio of 3.50 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $35.02 and a 200 day moving average of $36.54. The stock has a market capitalization of $1.34 billion, a PE ratio of 29.22 and a beta of 0.97. Vital Farms has a fifty-two week low of $11.55 and a fifty-two week high of $48.41.

Analyst Ratings Changes

Several brokerages recently weighed in on VITL. 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 research report on Friday. Stifel Nicolaus decreased their target price on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, DA Davidson raised their target price on Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.75.

Insider Activity at Vital Farms

In related news, insider Matthew Ohayer sold 24,000 shares of the business’s 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 transaction, the insider now directly owns 7,194,777 shares in the company, valued at approximately $281,243,832.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Russell Diez-Canseco sold 44,653 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.07, for a total value of $1,789,245.71. Following the transaction, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Ohayer sold 24,000 shares of the business’s 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 completion of the sale, the insider now directly owns 7,194,777 shares in the company, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.60% of the stock is owned by corporate insiders.

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.