JPMorgan Chase & Co. Increases Stock Holdings in Vital Farms, Inc. (NASDAQ:VITL)

JPMorgan Chase & Co. boosted its holdings in shares of Vital Farms, Inc. (NASDAQ:VITL) by 38.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 266,398 shares of the company’s stock after acquiring an additional 74,593 shares during the quarter. JPMorgan Chase & Co. owned 0.61% of Vital Farms worth $9,343,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VITL. Wellington Management Group LLP purchased a new position in Vital Farms during the 3rd quarter valued at $16,464,000. Millennium Management LLC boosted its holdings in Vital Farms by 651.3% during the 2nd quarter. Millennium Management LLC now owns 494,153 shares of the company’s stock valued at $23,112,000 after acquiring an additional 428,382 shares during the period. Emerald Advisers LLC boosted its holdings in Vital Farms by 106.8% during the 3rd quarter. Emerald Advisers LLC now owns 706,440 shares of the company’s stock valued at $24,775,000 after acquiring an additional 364,837 shares during the period. Renaissance Technologies LLC boosted its holdings in Vital Farms by 73.0% during the 2nd quarter. Renaissance Technologies LLC now owns 784,153 shares of the company’s stock valued at $36,675,000 after acquiring an additional 331,000 shares during the period. Finally, Wasatch Advisors LP purchased a new position in Vital Farms during the 3rd quarter valued at $9,894,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Insider Transactions at Vital Farms

In related news, insider Matthew Ohayer sold 24,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $38.19, for a total transaction of $916,560.00. Following the transaction, the insider now directly owns 7,038,890 shares of the company’s stock, valued at $268,815,209.10. This represents a 0.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Russell Diez-Canseco sold 44,728 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 613,797 shares in the company, valued at $23,115,595.02. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,728 shares of company stock valued at $3,539,176. Corporate insiders own 27.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on VITL. Jefferies Financial Group dropped their price objective on Vital Farms from $45.00 to $41.00 and set a “buy” rating for the company in a report on Monday, November 11th. Craig Hallum started coverage on Vital Farms in a report on Friday, December 20th. They issued a “buy” rating and a $50.00 target price for the company. TD Cowen upped their target price on Vital Farms from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, DA Davidson upped their target price on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Vital Farms currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Vital Farms Trading Up 3.7 %

VITL opened at $41.62 on Tuesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 37.16 and a beta of 0.88. The company has a current ratio of 3.24, a quick ratio of 2.81 and a debt-to-equity ratio of 0.04. Vital Farms, Inc. has a 12 month low of $14.16 and a 12 month high of $48.41. The stock has a fifty day moving average price of $35.29 and a 200-day moving average price of $35.81.

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

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.