TD Cowen Lowers Vital Farms (NASDAQ:VITL) Price Target to $44.00

Vital Farms (NASDAQ:VITL) had its price objective dropped by equities research analysts at TD Cowen from $59.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 35.37% from the company’s current price.

VITL has been the subject of a number of other research reports. Mizuho decreased their price target on shares of Vital Farms from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. BMO Capital Markets reduced their target price on shares of Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday. Benchmark reissued a “buy” rating on shares of Vital Farms in a report on Wednesday. DA Davidson set a $47.00 price target on Vital Farms in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vital Farms in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Vital Farms Stock Performance

Shares of NASDAQ VITL traded down $0.29 during trading hours on Thursday, reaching $32.50. The stock had a trading volume of 967,653 shares, compared to its average volume of 1,180,009. The firm has a 50-day moving average of $34.75 and a 200-day moving average of $38.99. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 24.61 and a beta of 1.06. The company has a current ratio of 2.65, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. Vital Farms has a fifty-two week low of $28.87 and a fifty-two week high of $53.13.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $198.94 million during the quarter, compared to analysts’ expectations of $191.35 million. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The firm’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities research analysts predict that Vital Farms will post 1.11 earnings per share for the current year.

Insider Transactions at Vital Farms

In related news, CEO Russell Diez-Canseco sold 16,734 shares of the firm’s 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 completion of the sale, the chief executive officer owned 649,684 shares in the company, valued at $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Ohayer sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $33.17, for a total value of $829,250.00. Following the transaction, the insider owned 6,391,190 shares in the company, valued at $211,995,772.30. The trade was a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 86,401 shares of company stock worth $3,008,045. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Vital Farms during the third quarter worth about $55,000. Jacobs Levy Equity Management Inc. increased its stake in Vital Farms by 13.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 64,571 shares of the company’s stock valued at $2,657,000 after purchasing an additional 7,475 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Vital Farms during the 3rd quarter worth about $967,000. XTX Topco Ltd grew its stake in shares of Vital Farms by 5.7% during the 3rd quarter. XTX Topco Ltd now owns 32,077 shares of the company’s stock valued at $1,320,000 after buying an additional 1,727 shares during the period. Finally, Virtus Advisers LLC purchased a new stake in Vital Farms during the third quarter valued at about $105,000. Hedge funds and other 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.