Vital Farms (NASDAQ:VITL) Shares Gap Up Following Earnings Beat

Vital Farms, Inc. (NASDAQ:VITL)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $33.88, but opened at $36.14. Vital Farms shares last traded at $31.88, with a volume of 646,185 shares changing hands.

The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. The firm had revenue of $165.99 million during the quarter, compared to analysts’ expectations of $160.32 million. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $52.00 target price on shares of Vital Farms in a report on Tuesday, February 18th. Stifel Nicolaus boosted their target price on shares of Vital Farms from $34.00 to $44.00 and gave the company a “hold” rating in a report on Friday, January 24th. Jefferies Financial Group reduced their target price on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. TD Cowen boosted their price objective on shares of Vital Farms from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum started 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 for the company. One investment analyst has rated the stock with a hold rating and seven have given 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 $44.57.

Insider Buying and Selling at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,728 shares of Vital Farms stock in a transaction on Thursday, December 12th. The stock was 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 owns 613,797 shares of the company’s stock, valued at approximately $23,115,595.02. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Ohayer sold 24,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $38.19, for a total value of $916,560.00. Following the completion of the transaction, the insider now owns 7,038,890 shares of the company’s stock, valued at $268,815,209.10. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,202 shares of company stock worth $7,855,957. 27.60% of the stock is owned by corporate insiders.

Institutional Trading of Vital Farms

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Vital Farms during the third quarter valued at approximately $35,000. CIBC Private Wealth Group LLC grew its position in Vital Farms by 152.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company’s stock worth $35,000 after purchasing an additional 540 shares during the period. US Bancorp DE raised its stake in Vital Farms by 160.3% during the 4th quarter. US Bancorp DE now owns 1,416 shares of the company’s stock valued at $53,000 after buying an additional 872 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Vital Farms during the 4th quarter valued at $59,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Vital Farms in the 4th quarter worth $62,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Vital Farms Stock Down 9.1 %

The company has a market cap of $1.35 billion, a P/E ratio of 27.49 and a beta of 0.90. 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 company has a fifty day moving average of $38.82 and a 200 day moving average of $35.64.

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.