Truist Financial Corp Decreases Holdings in Vital Farms, Inc. (NASDAQ:VITL)

Truist Financial Corp trimmed its holdings in shares of Vital Farms, Inc. (NASDAQ:VITL) by 16.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,885 shares of the company’s stock after selling 1,547 shares during the period. Truist Financial Corp’s holdings in Vital Farms were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP boosted its position in Vital Farms by 180.4% during the 2nd quarter. Quarry LP now owns 1,290 shares of the company’s stock worth $60,000 after purchasing an additional 830 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Vital Farms during the 2nd quarter worth $362,000. Millennium Management LLC boosted its position in Vital Farms by 651.3% during the 2nd quarter. Millennium Management LLC now owns 494,153 shares of the company’s stock worth $23,112,000 after purchasing an additional 428,382 shares during the period. AQR Capital Management LLC boosted its position in Vital Farms by 317.9% in the 2nd quarter. AQR Capital Management LLC now owns 74,161 shares of the company’s stock valued at $3,469,000 after buying an additional 56,414 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Vital Farms by 230.8% in the 2nd quarter. Squarepoint Ops LLC now owns 230,940 shares of the company’s stock valued at $10,801,000 after buying an additional 161,131 shares during the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the sale, the chief executive officer now directly owns 537,349 shares in the company, valued at approximately $21,531,574.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 27.60% of the company’s stock.

Analyst Upgrades and Downgrades

VITL has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, August 9th. DA Davidson upped their price objective on shares of Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised shares of Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Vital Farms has a consensus rating of “Moderate Buy” and an average price target of $35.20.

Vital Farms Stock Performance

Shares of Vital Farms stock opened at $40.27 on Friday. The firm has a market cap of $1.74 billion, a PE ratio of 37.99 and a beta of 0.97. The firm’s 50-day simple moving average is $33.61 and its 200-day simple moving average is $35.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50. Vital Farms, Inc. has a 1 year low of $10.41 and a 1 year high of $48.41.

Vital Farms (NASDAQ:VITL) last issued its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $147.39 million for the quarter, compared to analyst estimates of $138.41 million. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS. Equities analysts forecast that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

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.