Vital Farms (NASDAQ:VITL) Price Target Lowered to $35.00 at Needham & Company LLC

Vital Farms (NASDAQ:VITL) had its price target reduced by stock analysts at Needham & Company LLC from $45.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 73.14% from the stock’s previous close.

Several other analysts have also issued reports on VITL. TD Cowen restated a “buy” rating on shares of Vital Farms in a report on Tuesday, January 20th. Telsey Advisory Group dropped their price target on shares of Vital Farms from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday. Benchmark downgraded shares of Vital Farms from a “buy” rating to a “hold” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Finally, BMO Capital Markets lowered their target price on Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Vital Farms Trading Down 4.1%

VITL opened at $20.22 on Monday. The stock has a market capitalization of $905.63 million, a PE ratio of 14.04 and a beta of 1.14. Vital Farms has a one year low of $19.80 and a one year high of $53.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.61 and a current ratio of 2.16. The business’s 50 day moving average price is $28.60 and its 200 day moving average price is $35.98.

Vital Farms (NASDAQ:VITL) last posted its earnings results on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Vital Farms had a return on equity of 20.69% and a net margin of 8.73%.The business had revenue of $213.55 million for the quarter, compared to analyst estimates of $212.83 million. During the same period last year, the business earned $0.23 EPS. Vital Farms’s revenue was up 28.6% compared to the same quarter last year. As a group, equities research analysts expect that Vital Farms will post 1.11 EPS for the current year.

Insider Buying and Selling at Vital Farms

In related news, insider Matthew Ohayer sold 20,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $27.91, for a total transaction of $558,200.00. Following the completion of the transaction, the insider owned 6,341,190 shares in the company, valued at approximately $176,982,612.90. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Russell Diez-Canseco sold 16,734 shares of Vital Farms stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.05, for a total value of $586,526.70. Following the sale, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 66,734 shares of company stock valued at $2,092,227. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Vital Farms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VITL. Wasatch Advisors LP boosted its holdings in shares of Vital Farms by 80.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,074,803 shares of the company’s stock valued at $79,921,000 after buying an additional 923,507 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Vital Farms in the fourth quarter valued at $25,534,000. Balyasny Asset Management L.P. grew its holdings in shares of Vital Farms by 466.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 503,894 shares of the company’s stock worth $16,094,000 after purchasing an additional 641,394 shares during the last quarter. Marshall Wace LLP increased its position in shares of Vital Farms by 97.4% during the second quarter. Marshall Wace LLP now owns 1,234,008 shares of the company’s stock worth $47,534,000 after purchasing an additional 608,723 shares in the last quarter. Finally, Divisadero Street Capital Management LP lifted its holdings in shares of Vital Farms by 131.7% in the 3rd quarter. Divisadero Street Capital Management LP now owns 993,338 shares of the company’s stock valued at $40,876,000 after purchasing an additional 564,711 shares during the last quarter. 98.59% of the stock is 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.