Vital Farms, Inc. (NASDAQ:VITL) Given Average Recommendation of “Hold” by Analysts

Shares of Vital Farms, Inc. (NASDAQ:VITL) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.60.

A number of research firms recently commented on VITL. Zacks Investment Research downgraded Vital Farms from a “buy” rating to a “hold” rating in a report on Wednesday, August 25th. BMO Capital Markets dropped their price objective on Vital Farms from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 11th. They noted that the move was a valuation call. Finally, Cowen began coverage on Vital Farms in a report on Friday, September 10th. They issued an “outperform” rating and a $23.00 price target for the company.

In other news, Director Brent Drever sold 453,421 shares of the company’s stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $17.00, for a total transaction of $7,708,157.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Matthew Ohayer acquired 5,000 shares of Vital Farms stock in a transaction dated Friday, September 10th. The shares were purchased at an average cost of $17.10 per share, with a total value of $85,500.00. Following the completion of the transaction, the chairman now directly owns 8,060,494 shares of the company’s stock, valued at $137,834,447.40. The disclosure for this purchase can be found here. 41.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of VITL. The Manufacturers Life Insurance Company acquired a new position in Vital Farms during the first quarter valued at approximately $289,000. Envestnet Asset Management Inc. boosted its position in Vital Farms by 175.9% during the first quarter. Envestnet Asset Management Inc. now owns 31,176 shares of the company’s stock valued at $681,000 after purchasing an additional 19,876 shares during the last quarter. Alliancebernstein L.P. boosted its position in Vital Farms by 10.2% during the first quarter. Alliancebernstein L.P. now owns 1,851,692 shares of the company’s stock valued at $40,441,000 after purchasing an additional 170,872 shares during the last quarter. Rhumbline Advisers boosted its position in Vital Farms by 85.4% during the first quarter. Rhumbline Advisers now owns 25,238 shares of the company’s stock valued at $551,000 after purchasing an additional 11,624 shares during the last quarter. Finally, American International Group Inc. boosted its position in Vital Farms by 133.8% during the first quarter. American International Group Inc. now owns 13,944 shares of the company’s stock valued at $305,000 after purchasing an additional 7,979 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Shares of VITL traded up $0.62 during trading hours on Friday, hitting $18.10. 2,573 shares of the stock traded hands, compared to its average volume of 441,763. Vital Farms has a 1-year low of $16.02 and a 1-year high of $41.52. The firm has a market capitalization of $727.10 million, a PE ratio of 94.69 and a beta of 0.10. The business has a fifty day moving average of $17.86 and a 200-day moving average of $21.18.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings data on Tuesday, August 10th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. The business had revenue of $60.32 million during the quarter, compared to the consensus estimate of $57.75 million. Vital Farms had a return on equity of 5.68% and a net margin of 3.66%. As a group, equities research analysts expect that Vital Farms will post 0.05 earnings per share for the current year.

About Vital Farms

Vital Farms, Inc, an ethical food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, ghee, liquid whole eggs, and egg bite products. The company was founded in 2007 and is headquartered in Austin, Texas.

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Analyst Recommendations for Vital Farms (NASDAQ:VITL)

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