Key Points
- Major shareholder Matthew O’Hayer sold 66,200 Vital Farms shares at an average $9.68, totaling about $640,816. He retained 6,261,970 shares after the sale; the transaction reduced his direct stake by 1.05%.
- Vital Farms’ latest quarterly results missed earnings expectations: loss per share was $0.15 versus an expected $0.11 loss. Revenue of $182.16 million slightly topped estimates but fell 8.4% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $16.58; ratings include seven Buys, seven Holds, and one Sell.
Vital Farms, Inc. (NASDAQ:VITL - Get Free Report) major shareholder Matthew O'Hayer sold 66,200 shares of Vital Farms stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $9.68, for a total transaction of $640,816.00. Following the sale, the insider directly owned 6,261,970 shares in the company, valued at $60,615,869.60. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Matthew Ohayer also recently made the following trade(s):
- On Friday, November 6th, Matthew O'Hayer sold 3,550 shares of Vital Farms stock. The shares were sold at an average price of $9.53, for a total value of $33,831.50.
Vital Farms Price Performance
Shares of VITL opened at $10.01 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The stock has a market cap of $429.83 million, a PE ratio of -18.20 and a beta of 1.16. Vital Farms, Inc. has a 12-month low of $7.95 and a 12-month high of $36.10. The business has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $13.49.
Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). The firm had revenue of $182.16 million for the quarter, compared to analyst estimates of $181.78 million. Vital Farms had a negative net margin of 3.03% and a negative return on equity of 3.74%. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. Analysts anticipate that Vital Farms, Inc. will post -0.82 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
VITL has been the topic of several recent research reports. Weiss Ratings downgraded shares of Vital Farms from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, September 29th. TD Cowen reduced their target price on shares of Vital Farms from $11.00 to $8.00 and set a "hold" rating on the stock in a report on Tuesday, October 13th. BMO Capital Markets restated an "outperform" rating on shares of Vital Farms in a research report on Wednesday, November 4th. Zacks Research upgraded shares of Vital Farms from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Finally, DA Davidson set a $10.00 price target on shares of Vital Farms in a research note on Tuesday, October 27th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.58.
Check Out Our Latest Stock Analysis on VITL
Hedge Funds Weigh In On Vital Farms
Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Vital Farms by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,102 shares of the company's stock worth $199,000 after acquiring an additional 1,438 shares during the period. Keebeck Wealth Management boosted its holdings in Vital Farms by 16.5% in the first quarter. Keebeck Wealth Management now owns 10,707 shares of the company's stock valued at $151,000 after acquiring an additional 1,513 shares during the last quarter. Raiffeisen Bank International AG increased its position in Vital Farms by 8.0% during the 2nd quarter. Raiffeisen Bank International AG now owns 27,000 shares of the company's stock valued at $305,000 after purchasing an additional 2,000 shares during the period. Assetmark Inc. increased its position in Vital Farms by 53.7% during the 1st quarter. Assetmark Inc. now owns 5,732 shares of the company's stock valued at $81,000 after purchasing an additional 2,002 shares during the period. Finally, Signaturefd LLC increased its position in Vital Farms by 53.6% during the 3rd quarter. Signaturefd LLC now owns 5,829 shares of the company's stock valued at $54,000 after purchasing an additional 2,035 shares during the period. 98.59% of the stock is currently owned by institutional investors.
About Vital Farms
(
Get Free Report)
Vital Farms, Inc. is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its offerings include pasture-raised eggs, butter, hard-boiled eggs and ghee, sold under the Vital Farms brand. Founded in 2007, the company works with a network of family farms and focuses on animal welfare, outdoor access and supply-chain transparency. Vital Farms products are distributed primarily through grocery retailers and other food channels across the United States.
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