Vital Farms (NASDAQ:VITL) Trading 7.1% Higher Following Earnings Beat

Vital Farms, Inc. (NASDAQ:VITL)’s stock price rose 7.1% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $33.40 and last traded at $32.99. Approximately 2,140,477 shares changed hands during trading, an increase of 74% from the average daily volume of 1,229,488 shares. The stock had previously closed at $30.79.

The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The business had revenue of $165.99 million for the quarter, compared to analyst estimates of $160.32 million.

Analyst Ratings Changes

VITL has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of Vital Farms in a research note on Friday. Craig Hallum started coverage on Vital Farms in a report on Friday, December 20th. They issued a “buy” rating and a $50.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $52.00 price objective on shares of Vital Farms in a report on Friday. Stifel Nicolaus upgraded Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Friday. Finally, TD Cowen upped their price objective on Vital Farms from $41.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vital Farms currently has an average rating of “Buy” and an average price target of $44.57.

Insiders Place Their Bets

In related news, insider Joanne Bal sold 28,246 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $45.10, for a total transaction of $1,273,894.60. Following the completion of the transaction, the insider now directly owns 59,371 shares in the company, valued at approximately $2,677,632.10. This trade represents a 32.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Kathryn Mckeon sold 12,300 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.08, for a total value of $517,584.00. Following the transaction, the chief marketing officer now owns 46,203 shares of the company’s stock, valued at approximately $1,944,222.24. The trade was a 21.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 190,202 shares of company stock worth $7,855,957 over the last ninety days. 27.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Vital Farms

Several hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in Vital Farms by 4.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,857 shares of the company’s stock worth $276,000 after purchasing an additional 329 shares during the last quarter. Principal Securities Inc. increased its stake in Vital Farms by 29.4% during the 4th quarter. Principal Securities Inc. now owns 1,673 shares of the company’s stock worth $63,000 after acquiring an additional 380 shares during the period. Summit Investment Advisors Inc. increased its stake in Vital Farms by 15.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,487 shares of the company’s stock worth $131,000 after acquiring an additional 475 shares during the period. Lifestyle Asset Management Inc. increased its stake in Vital Farms by 5.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 10,345 shares of the company’s stock worth $390,000 after acquiring an additional 499 shares during the period. Finally, Stifel Financial Corp increased its stake in Vital Farms by 6.8% during the 4th quarter. Stifel Financial Corp now owns 8,117 shares of the company’s stock worth $306,000 after acquiring an additional 518 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Vital Farms Stock Performance

The stock has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $35.69. The company has a current ratio of 3.24, a quick ratio of 2.81 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.45 billion, a P/E ratio of 29.56 and a beta of 0.90.

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.