Vital Farms (NASDAQ:VITL) Stock Price Down 2.8% – Here’s What Happened

Vital Farms, Inc. (NASDAQ:VITL) traded down 2.8% during trading on Thursday . The stock traded as low as $38.11 and last traded at $38.23. 204,684 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 815,821 shares. The stock had previously closed at $39.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VITL shares. Craig Hallum initiated coverage on shares of Vital Farms in a research note on Friday, December 20th. They set a “buy” rating and a $50.00 target price on the stock. TD Cowen cut their price objective on Vital Farms from $46.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group decreased their target price on Vital Farms from $45.00 to $41.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, DA Davidson upped their price target on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Vital Farms Stock Down 3.0 %

The company has a quick ratio of 2.81, a current ratio of 3.24 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.67 billion, a PE ratio of 34.07 and a beta of 0.94. The firm has a fifty day moving average of $34.77 and a 200 day moving average of $36.23.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $145.27 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, equities research analysts anticipate that Vital Farms, Inc. will post 1.11 EPS for the current fiscal 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 Thursday, December 19th. The stock was sold at an average price of $38.19, for a total transaction of $916,560.00. Following the transaction, the insider now owns 7,038,890 shares of the company’s stock, valued at $268,815,209.10. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Russell Diez-Canseco sold 44,728 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.66, for a total value of $1,684,456.48. Following the completion of the sale, the chief executive officer now directly owns 613,797 shares of the company’s stock, valued at $23,115,595.02. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,381 shares of company stock valued at $5,328,422. 27.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vital Farms

A number of institutional investors have recently modified their holdings of VITL. Brown Brothers Harriman & Co. purchased a new position in Vital Farms during the 3rd quarter worth $35,000. Quarry LP grew its holdings in shares of Vital Farms by 180.4% during the second quarter. Quarry LP now owns 1,290 shares of the company’s stock worth $60,000 after buying an additional 830 shares during the last quarter. nVerses Capital LLC increased its position in Vital Farms by 66.7% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $94,000 after acquiring an additional 800 shares during the period. Quest Partners LLC purchased a new stake in Vital Farms during the 2nd quarter valued at approximately $97,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Vital Farms during the 2nd quarter worth approximately $168,000. 98.59% of the stock is owned by institutional investors and hedge funds.

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.