Vital Farms (NASDAQ:VITL) Shares Gap Up After Better-Than-Expected Earnings

Vital Farms, Inc. (NASDAQ:VITL) 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.

The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.07. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VITL shares. Craig Hallum started coverage on shares of Vital Farms in a research note on Friday, December 20th. They issued a “buy” rating and a $50.00 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Vital Farms from $34.00 to $44.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. TD Cowen lifted their price target 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. Telsey Advisory Group reiterated an “outperform” rating and set a $52.00 price target on shares of Vital Farms in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price target on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.57.

Insider Buying and Selling at Vital Farms

In related news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction dated 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 sale, the insider now directly owns 7,038,890 shares in the company, valued at $268,815,209.10. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Russell Diez-Canseco sold 44,728 shares of Vital Farms stock in a transaction dated 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. 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 three months, insiders sold 190,202 shares of company stock valued at $7,855,957. 27.60% of the stock is currently owned by company insiders.

Institutional Trading of Vital Farms

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VITL. Brown Brothers Harriman & Co. acquired a new stake in Vital Farms in the third quarter worth about $35,000. CIBC Private Wealth Group LLC grew its position in shares of Vital Farms by 152.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company’s stock valued at $35,000 after purchasing an additional 540 shares during the period. US Bancorp DE raised its holdings in shares of Vital Farms by 160.3% in the fourth quarter. US Bancorp DE now owns 1,416 shares of the company’s stock valued at $53,000 after purchasing an additional 872 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Vital Farms in the fourth quarter worth $59,000. Finally, Mendota Financial Group LLC acquired a new position in Vital Farms during the fourth quarter worth $62,000. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Vital Farms Trading Down 3.8 %

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 business’s 50-day moving average is $38.98 and its two-hundred day moving average is $35.67. The firm has a market cap of $1.43 billion, a P/E ratio of 29.11 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.