Vital Farms (NASDAQ:VITL) Stock Price Down 8.4% – Here’s What Happened

Shares of Vital Farms, Inc. (NASDAQ:VITL) traded down 8.4% during trading on Thursday . The company traded as low as $29.42 and last traded at $29.26. 829,387 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 975,348 shares. The stock had previously closed at $31.94.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VITL shares. Craig Hallum started coverage on shares of Vital Farms in a research note on Friday, December 20th. They set a “buy” rating and a $50.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Vital Farms in a research report on Friday, February 28th. Telsey Advisory Group reiterated an “outperform” rating and set a $52.00 target price on shares of Vital Farms in a report on Thursday. TD Cowen increased their price target on Vital Farms from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus upgraded Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Friday, February 28th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Vital Farms presently has an average rating of “Buy” and a consensus price target of $44.57.

Vital Farms Stock Down 8.2 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.24 and a quick ratio of 2.81. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 26.18 and a beta of 0.95. The firm has a 50-day moving average price of $37.64 and a two-hundred day moving average price of $35.70.

Vital Farms (NASDAQ:VITL) last released its earnings results on Thursday, February 27th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%. The business had revenue of $165.99 million during the quarter, compared to the consensus estimate of $160.32 million. As a group, sell-side analysts anticipate that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.19, for a total value of $1,036,560.00. Following the completion of the transaction, the insider now directly owns 7,014,890 shares in the company, valued at $302,973,099.10. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Russell Diez-Canseco sold 44,628 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $42.24, for a total value of $1,885,086.72. Following the sale, the chief executive officer now owns 668,202 shares in the company, valued at approximately $28,224,852.48. This represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,474 shares of company stock valued at $6,171,500. 27.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Vital Farms

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Vital Farms by 417.8% in the 4th quarter. Wellington Management Group LLP now owns 2,431,024 shares of the company’s stock valued at $91,625,000 after acquiring an additional 1,961,550 shares during the period. Principal Financial Group Inc. raised its position in shares of Vital Farms by 78.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,171,950 shares of the company’s stock valued at $44,172,000 after purchasing an additional 516,139 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Vital Farms by 64.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,058,753 shares of the company’s stock worth $39,904,000 after buying an additional 415,614 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Vital Farms by 96.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 628,709 shares of the company’s stock worth $23,696,000 after buying an additional 308,425 shares during the period. Finally, Wasatch Advisors LP grew its stake in Vital Farms by 105.5% in the 4th quarter. Wasatch Advisors LP now owns 579,808 shares of the company’s stock valued at $21,853,000 after buying an additional 297,684 shares during the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.

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.