Vital Farms (NASDAQ:VITL) Releases Earnings Results, Beats Estimates By $0.02 EPS

Vital Farms (NASDAQ:VITL) issued its earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02, Briefing.com reports. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $145.27 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Down 1.4 %

Shares of NASDAQ:VITL traded down $0.44 during trading on Friday, reaching $30.94. 1,150,863 shares of the stock traded hands, compared to its average volume of 774,763. The stock has a market cap of $1.33 billion, a P/E ratio of 29.22 and a beta of 0.97. The stock has a 50-day moving average of $35.02 and a two-hundred day moving average of $36.54. Vital Farms has a 52-week low of $11.55 and a 52-week high of $48.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VITL. DA Davidson boosted their price objective on shares of Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus lowered their price target on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen reduced their price objective on Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Insider Buying and Selling at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of Vital Farms stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the transaction, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $40.07, for a total value of $1,789,245.71. Following the completion of the transaction, the chief executive officer now directly owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $39.09, for a total transaction of $938,160.00. Following the completion of the transaction, the insider now directly owns 7,194,777 shares of the company’s stock, valued at approximately $281,243,832.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.60% of the company’s stock.

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.