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

Vital Farms (NASDAQ:VITL) had its price objective lowered by research analysts at Needham & Company LLC from $45.00 to $35.00 in a research report issued to clients and investors 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 company’s current price.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 price objective (down from $45.00) on shares of Vital Farms in a research note on Friday. Mizuho lowered their target price on Vital Farms from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday. TD Cowen reissued a “buy” rating on shares of Vital Farms in a report on Tuesday, January 20th. Finally, DA Davidson set a $47.00 price target on Vital Farms and gave the stock a “buy” rating in a report on Wednesday, December 17th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Vital Farms currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Vital Farms Stock Performance

Shares of VITL opened at $20.22 on Monday. The company’s 50 day simple moving average is $28.60 and its 200-day simple moving average is $35.98. The firm has a market cap of $905.63 million, a PE ratio of 14.04 and a beta of 1.14. Vital Farms has a 12-month low of $19.80 and a 12-month high of $53.13. The company has a current ratio of 2.16, a quick ratio of 1.61 and a debt-to-equity ratio of 0.01.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, equities analysts predict that Vital Farms will post 1.11 EPS for the current year.

Insider Transactions at Vital Farms

In other Vital Farms news, insider Matthew Ohayer sold 25,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $30.85, for a total transaction of $771,250.00. Following the transaction, the insider directly owned 6,361,190 shares in the company, valued at approximately $196,242,711.50. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Russell Diez-Canseco sold 16,734 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.05, for a total transaction of $586,526.70. Following the completion of the transaction, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at approximately $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,734 shares of company stock valued at $2,092,227 in the last quarter. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

A number of institutional investors and hedge funds have recently modified their holdings of VITL. Vanguard Group Inc. raised its holdings in Vital Farms by 22.9% during the fourth quarter. Vanguard Group Inc. now owns 2,845,714 shares of the company’s stock worth $90,892,000 after purchasing an additional 530,008 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Vital Farms by 13.7% in the fourth quarter. Wasatch Advisors LP now owns 2,687,246 shares of the company’s stock valued at $85,831,000 after buying an additional 324,725 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Vital Farms by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 2,047,955 shares of the company’s stock valued at $65,412,000 after buying an additional 26,150 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Vital Farms by 35.7% during the 2nd quarter. American Century Companies Inc. now owns 1,687,869 shares of the company’s stock worth $65,017,000 after buying an additional 444,402 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Vital Farms by 10.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,520,471 shares of the company’s stock worth $48,564,000 after buying an additional 142,790 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

About Vital Farms

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.