Vital Farms (NASDAQ:VITL) Downgraded by Benchmark to Hold

Vital Farms (NASDAQ:VITL) was downgraded by research analysts at Benchmark from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Vital Farms in a research note on Friday, January 30th. Mizuho cut their price target on shares of Vital Farms from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Jefferies Financial Group reissued a “buy” rating and set a $52.00 price objective on shares of Vital Farms in a report on Wednesday, December 17th. Finally, Zacks Research downgraded Vital Farms from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.91.

Vital Farms Trading Down 14.9%

Vital Farms stock traded down $3.68 during midday trading on Thursday, reaching $21.11. The stock had a trading volume of 8,410,694 shares, compared to its average volume of 1,743,942. Vital Farms has a 52-week low of $19.80 and a 52-week high of $53.13. The company has a fifty day moving average of $29.04 and a 200 day moving average of $36.40. The firm has a market cap of $945.17 million, a price-to-earnings ratio of 16.06 and a beta of 1.10. The company has a quick ratio of 2.15, a current ratio of 2.65 and a debt-to-equity ratio of 0.02.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The business had revenue of $213.55 million for the quarter, compared to the consensus estimate of $212.83 million. During the same period in the prior year, the business posted $0.23 earnings per share. Vital Farms’s revenue was up 28.6% on a year-over-year basis. On average, analysts anticipate that Vital Farms will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 16,734 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.05, for a total value of $586,526.70. Following the completion of the transaction, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at approximately $22,771,424.20. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Ohayer sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $30.85, for a total transaction of $771,250.00. Following the sale, the insider directly owned 6,361,190 shares in the company, valued at $196,242,711.50. The trade was a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 91,734 shares of company stock valued at $2,921,477. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vital Farms

A number of institutional investors have recently modified their holdings of VITL. Invesco Ltd. lifted its holdings in Vital Farms by 95.3% in the 4th quarter. Invesco Ltd. now owns 168,264 shares of the company’s stock valued at $5,374,000 after purchasing an additional 82,086 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Vital Farms in the fourth quarter valued at about $263,000. Wellington Management Group LLP lifted its stake in shares of Vital Farms by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 2,047,955 shares of the company’s stock worth $65,412,000 after buying an additional 26,150 shares in the last quarter. Susquehanna Portfolio Strategies LLC boosted its position in Vital Farms by 108.0% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 111,689 shares of the company’s stock worth $3,567,000 after acquiring an additional 57,999 shares during the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in Vital Farms by 45.0% during the 4th quarter. Osterweis Capital Management Inc. now owns 335,630 shares of the company’s stock valued at $10,720,000 after acquiring an additional 104,215 shares in the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.

Vital Farms Company Profile

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms’ supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.