Vital Farms (NASDAQ:VITL) Announces Earnings Results, Beats Expectations By $0.15 EPS

Vital Farms (NASDAQ:VITL) released its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15, Briefing.com reports. The firm had revenue of $147.39 million during the quarter, compared to analysts’ expectations of $138.41 million. Vital Farms had a return on equity of 19.58% and a net margin of 7.48%. The business’s revenue was up 38.5% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Trading Down 3.3 %

Shares of NASDAQ VITL traded down $1.03 during mid-day trading on Friday, hitting $30.47. The company’s stock had a trading volume of 2,059,692 shares, compared to its average volume of 659,389. Vital Farms has a one year low of $10.30 and a one year high of $48.41. The company’s fifty day simple moving average is $41.20 and its 200-day simple moving average is $30.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.10 and a quick ratio of 2.66. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 36.46 and a beta of 0.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Friday. Lake Street Capital raised their price objective on shares of Vital Farms from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. DA Davidson upped their target price on shares of Vital Farms from $28.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, TD Cowen raised shares of Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Insider Buying and Selling

In other news, SVP Stephanie Coon sold 5,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $41.02, for a total value of $205,100.00. Following the transaction, the senior vice president now owns 53,450 shares of the company’s stock, valued at approximately $2,192,519. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vital Farms news, insider Matthew Ohayer sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $41.72, for a total value of $2,086,000.00. Following the completion of the transaction, the insider now directly owns 7,364,777 shares of the company’s stock, valued at $307,258,496.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stephanie Coon sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $41.02, for a total value of $205,100.00. Following the sale, the senior vice president now directly owns 53,450 shares in the company, valued at approximately $2,192,519. The disclosure for this sale can be found here. Insiders sold a total of 189,321 shares of company stock valued at $7,850,743 over the last ninety days. Insiders own 30.20% 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.