Vital Farms (NASDAQ:VITL) Trading 7.1% Higher on Better-Than-Expected Earnings

Vital Farms, Inc. (NASDAQ:VITL)’s share price traded up 7.1% on Friday following a better than expected earnings announcement. The company traded as high as $33.40 and last traded at $32.99. 2,140,477 shares were traded during trading, an increase of 74% from the average session volume of 1,229,488 shares. The stock had previously closed at $30.79.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Vital Farms in a report on Friday. Craig Hallum began coverage on shares of Vital Farms in a report on Friday, December 20th. They set a “buy” rating and a $50.00 target price on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $52.00 price objective on shares of Vital Farms in a report on Friday. Stifel Nicolaus upgraded shares of Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $44.57.

Insider Activity at Vital Farms

In related news, CEO Russell Diez-Canseco sold 44,728 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 613,797 shares in the company, valued at approximately $23,115,595.02. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew Ohayer sold 24,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.19, for a total transaction of $1,036,560.00. Following the completion of the transaction, the insider now owns 7,014,890 shares in the company, valued at $302,973,099.10. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,202 shares of company stock worth $7,855,957. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

Institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in Vital Farms during the third quarter worth about $35,000. CIBC Private Wealth Group LLC lifted its position in Vital Farms by 152.1% during the fourth 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 lifted its position in Vital Farms by 160.3% during the fourth quarter. US Bancorp DE now owns 1,416 shares of the company’s stock worth $53,000 after purchasing an additional 872 shares during the period. Frazier Financial Advisors LLC bought a new stake in Vital Farms during the fourth quarter worth about $59,000. Finally, Mendota Financial Group LLC bought a new stake in Vital Farms during the fourth quarter worth about $62,000. Institutional investors own 98.59% of the company’s stock.

Vital Farms Price Performance

The company’s 50-day moving average is $38.69 and its two-hundred day moving average is $35.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.24 and a quick ratio of 2.81. The firm has a market cap of $1.45 billion, a P/E ratio of 29.56 and a beta of 0.90.

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.