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

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

Vital Farms Trading Down 1.1 %

VITL traded down $0.34 during trading hours on Friday, reaching $31.04. 1,078,066 shares of the company’s 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 firm has a 50-day moving average price of $35.02 and a 200 day moving average price of $36.54. Vital Farms has a 52-week low of $11.55 and a 52-week high of $48.41. The firm has a market capitalization of $1.34 billion, a PE ratio of 29.22 and a beta of 0.97.

Insider Transactions at Vital Farms

In related news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $39.09, for a total value of $938,160.00. Following the transaction, 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 accessible through the SEC website. In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 7,194,777 shares in the company, valued at approximately $281,243,832.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Russell Diez-Canseco sold 44,653 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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 in the company, valued at approximately $21,531,574.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 27.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VITL. Stifel Nicolaus decreased their target price 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. TD Cowen lowered their price objective on Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a research note on Friday. Finally, DA Davidson boosted 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Vital Farms currently 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.