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

Vital Farms (NASDAQ:VITL) released its earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Performance

Shares of VITL traded down $0.44 during mid-day trading on Friday, reaching $30.94. 1,150,863 shares of the company’s stock traded hands, compared to its average volume of 774,763. The business’s 50-day moving average price is $35.02 and its 200-day moving average price is $36.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50. The stock has a market capitalization of $1.33 billion, a P/E ratio of 29.22 and a beta of 0.97. Vital Farms has a 12 month low of $11.55 and a 12 month high of $48.41.

Insiders Place Their Bets

In other Vital Farms 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 approximately $21,531,574.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $39.09, for a total value of $938,160.00. Following the sale, the insider now owns 7,194,777 shares of the company’s stock, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Russell Diez-Canseco sold 44,653 shares of the company’s stock in a transaction that occurred 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 approximately $21,531,574.43. 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 insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on VITL. DA Davidson raised 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. TD Cowen lowered their price target on Vital Farms from $46.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus lowered their price target on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Vital Farms presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

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.