TD Cowen Has Lowered Expectations for Vital Farms (NASDAQ:VITL) Stock Price

Vital Farms (NASDAQ:VITL) had its price target reduced by equities researchers at TD Cowen from $59.00 to $44.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 35.37% from the company’s current price.

Several other research analysts have also weighed in on the stock. Benchmark reissued a “buy” rating on shares of Vital Farms in a report on Wednesday. Mizuho lowered their price objective on Vital Farms from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. DA Davidson set a $47.00 target price on Vital Farms in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vital Farms in a research report on Monday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price target on shares of Vital Farms in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Vital Farms Stock Down 0.9%

Shares of VITL stock traded down $0.29 during trading hours on Thursday, reaching $32.50. The company had a trading volume of 967,653 shares, compared to its average volume of 1,180,009. The company has a market capitalization of $1.46 billion, a P/E ratio of 24.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.65. Vital Farms has a twelve month low of $28.87 and a twelve month high of $53.13. The stock’s fifty day simple moving average is $34.75 and its 200 day simple moving average is $38.99.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The firm had revenue of $198.94 million during the quarter, compared to analysts’ expectations of $191.35 million. During the same quarter in the prior year, the business earned $0.16 EPS. Vital Farms’s quarterly revenue was up 37.2% compared to the same quarter last year. As a group, sell-side analysts expect that Vital Farms will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew Ohayer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $35.25, for a total value of $176,250.00. Following the completion of the transaction, the insider owned 6,386,190 shares of the company’s stock, valued at approximately $225,113,197.50. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Russell Diez-Canseco sold 16,734 shares of Vital Farms stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.05, for a total value of $586,526.70. Following the transaction, the chief executive officer directly owned 649,684 shares in the company, valued at approximately $22,771,424.20. This trade represents a 2.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 86,401 shares of company stock valued at $3,008,045 over the last 90 days. 21.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vital Farms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Vital Farms by 16.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,571 shares of the company’s stock valued at $2,179,000 after purchasing an additional 8,008 shares in the last quarter. Inspire Investing LLC boosted its stake in Vital Farms by 248.4% during the 1st quarter. Inspire Investing LLC now owns 37,460 shares of the company’s stock valued at $1,141,000 after purchasing an additional 26,708 shares during the period. Aurora Investment Counsel boosted its position in shares of Vital Farms by 36.5% in the second quarter. Aurora Investment Counsel now owns 49,335 shares of the company’s stock valued at $1,900,000 after acquiring an additional 13,202 shares during the period. Peregrine Capital Management LLC bought a new stake in Vital Farms in the 2nd quarter valued at $7,665,000. Finally, Vontobel Holding Ltd. grew its position in Vital Farms by 206.5% during the second quarter. Vontobel Holding Ltd. now owns 25,808 shares of the company’s stock worth $994,000 after buying an additional 17,387 shares in the last quarter. Institutional investors own 98.59% of the company’s stock.

Vital Farms Company Profile

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.