Analysts Set Vital Farms, Inc. (NASDAQ:VITL) Price Target at $45.00

Shares of Vital Farms, Inc. (NASDAQ:VITL) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $45.00.

Several brokerages have issued reports on VITL. Mizuho dropped their target price on Vital Farms from $48.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Needham & Company LLC lowered their price target on shares of Vital Farms from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Benchmark lowered shares of Vital Farms from a “buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Vital Farms from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd.

Insider Buying and Selling

In related news, major shareholder Matthew Ohayer sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $20.33, for a total value of $406,600.00. Following the transaction, the insider directly owned 6,321,190 shares in the company, valued at approximately $128,509,792.70. This represents a 0.32% 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, CEO Russell Diez-Canseco sold 16,734 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.05, for a total value of $586,526.70. Following the completion of the transaction, the chief executive officer owned 649,684 shares of the company’s stock, valued at $22,771,424.20. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,734 shares of company stock valued at $2,498,827 in the last 90 days. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new position in shares of Vital Farms during the 4th quarter worth $25,000. Quarry LP acquired a new stake in shares of Vital Farms during the 4th quarter worth about $27,000. Exchange Traded Concepts LLC purchased a new stake in Vital Farms in the 3rd quarter valued at about $28,000. Global Retirement Partners LLC lifted its position in Vital Farms by 4,382.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,031 shares of the company’s stock valued at $33,000 after buying an additional 1,008 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Vital Farms by 225.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,452 shares of the company’s stock valued at $46,000 after buying an additional 1,006 shares during the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Vital Farms Trading Down 4.0%

Shares of Vital Farms stock opened at $19.10 on Tuesday. The stock has a market cap of $855.68 million, a P/E ratio of 13.26 and a beta of 1.14. The stock’s 50 day simple moving average is $27.09 and its 200-day simple moving average is $34.75. Vital Farms has a 1-year low of $17.91 and a 1-year high of $53.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 1.61.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Vital Farms had a net margin of 8.73% and a return on equity of 20.69%. The company had revenue of $213.55 million during the quarter, compared to analysts’ expectations of $212.83 million. During the same quarter last year, the company earned $0.23 earnings per share. Vital Farms’s revenue for the quarter was up 28.6% on a year-over-year basis. Analysts predict that Vital Farms will post 1.11 EPS for the current fiscal year.

About Vital Farms

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms’ supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.