Vital Farms (NASDAQ:VITL) Shares Down 6.9% – Here’s What Happened

Shares of Vital Farms, Inc. (NASDAQ:VITL) dropped 6.9% on Tuesday . The company traded as low as $42.32 and last traded at $41.92. Approximately 184,387 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 994,998 shares. The stock had previously closed at $45.01.

Wall Street Analysts Forecast Growth

VITL has been the topic of several recent research reports. Craig Hallum started coverage on shares of Vital Farms in a research note on Friday, December 20th. They set a “buy” rating and a $50.00 target price on the stock. TD Cowen upped their price objective on Vital Farms from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. DA Davidson lifted their target price on Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group lowered their target price on Vital Farms from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.67.

Vital Farms Trading Up 1.6 %

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 40.29 and a beta of 0.88. The business’s 50 day moving average is $37.00 and its 200 day moving average is $35.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.24 and a quick ratio of 2.81.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The company had revenue of $145.00 million during the quarter, compared to the consensus estimate of $145.27 million. During the same period in the previous year, the business earned $0.10 EPS. Vital Farms’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities analysts expect that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

In related news, CEO Russell Diez-Canseco sold 44,728 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 613,797 shares of the company’s stock, valued at $23,115,595.02. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.19, for a total value of $1,036,560.00. Following the transaction, the insider now directly owns 7,014,890 shares in the company, valued at approximately $302,973,099.10. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,202 shares of company stock valued at $7,855,957 over the last three months. 27.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Vital Farms in the third quarter valued at approximately $35,000. Quarry LP raised its position in Vital Farms by 180.4% in the 2nd quarter. Quarry LP now owns 1,290 shares of the company’s stock valued at $60,000 after purchasing an additional 830 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in Vital Farms during the 4th quarter worth $62,000. Canada Pension Plan Investment Board purchased a new position in Vital Farms during the 2nd quarter worth $168,000. Finally, nVerses Capital LLC increased its stake in Vital Farms by 130.0% in the third quarter. nVerses Capital LLC now owns 4,600 shares of the company’s stock valued at $161,000 after purchasing an additional 2,600 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.

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.