Morgan Stanley Begins Coverage on Vital Farms (NASDAQ:VITL)

Investment analysts at Morgan Stanley started coverage on shares of Vital Farms (NASDAQ:VITL) in a report released on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 0.70% from the company’s current price.

A number of other research analysts also recently commented on the stock. William Blair reissued an “outperform” rating on shares of Vital Farms in a research report on Friday, February 28th. TD Cowen lifted their price objective on shares of Vital Farms from $41.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Telsey Advisory Group restated an “outperform” rating and set a $52.00 target price on shares of Vital Farms in a report on Thursday, March 13th. DA Davidson dropped their target price on Vital Farms from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Craig Hallum began coverage on Vital Farms in a research report on Friday, December 20th. They issued a “buy” rating and a $50.00 price target for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Vital Farms presently has a consensus rating of “Buy” and a consensus price target of $42.00.

Vital Farms Stock Up 0.9 %

Shares of NASDAQ:VITL opened at $29.79 on Monday. The business’s 50 day moving average is $36.38 and its 200 day moving average is $35.67. The stock has a market cap of $1.32 billion, a P/E ratio of 26.60 and a beta of 0.95. Vital Farms has a 52-week low of $22.82 and a 52-week high of $48.41. The company has a quick ratio of 2.81, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

Vital Farms (NASDAQ:VITL) last issued its earnings results on Thursday, February 27th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The business had revenue of $165.99 million during the quarter, compared to analysts’ expectations of $160.32 million. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. Sell-side analysts predict that Vital Farms will post 1.11 EPS for the current year.

Insider Activity

In other news, CMO Kathryn Mckeon sold 12,300 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.08, for a total transaction of $517,584.00. Following the transaction, the chief marketing officer now owns 46,203 shares in the company, valued at $1,944,222.24. This represents a 21.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Russell Diez-Canseco sold 44,628 shares of Vital Farms stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $42.24, for a total transaction of $1,885,086.72. Following the completion of the sale, the chief executive officer now owns 668,202 shares of the company’s stock, valued at $28,224,852.48. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,474 shares of company stock worth $5,844,140. Insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

A number of large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new stake in Vital Farms during the 3rd quarter worth about $35,000. CIBC Private Wealth Group LLC raised its stake in shares of Vital Farms by 152.1% in 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 last quarter. US Bancorp DE lifted its holdings in shares of 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 purchased a new stake in Vital Farms in the fourth quarter valued at approximately $59,000. Finally, Mendota Financial Group LLC acquired a new position in Vital Farms in the 4th quarter worth approximately $62,000. 98.59% of the stock is owned by hedge funds and other institutional investors.

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.