Vital Farms, Inc. (NASDAQ:VITL – Get Rating) shares rose 8.3% during trading on Thursday . The stock traded as high as $13.08 and last traded at $13.06. Approximately 2,810 shares traded hands during trading, a decline of 99% from the average daily volume of 331,610 shares. The stock had previously closed at $12.06.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on VITL. Morgan Stanley raised Vital Farms from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 20th. BMO Capital Markets lowered their price objective on Vital Farms from $20.00 to $15.00 in a research report on Friday, May 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.30.
Vital Farms Stock Performance
The firm has a market capitalization of $549.83 million, a price-to-earnings ratio of -193.43 and a beta of 0.77. The company has a 50-day moving average price of $9.72 and a 200-day moving average price of $11.91.
In other news, Chairman Matthew Ohayer bought 10,000 shares of Vital Farms stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average cost of $9.66 per share, with a total value of $96,600.00. Following the acquisition, the chairman now owns 7,975,494 shares of the company’s stock, valued at $77,043,272.04. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 41.30% of the company’s stock.
Institutional Trading of Vital Farms
Several institutional investors and hedge funds have recently added to or reduced their stakes in VITL. Van ECK Associates Corp purchased a new stake in Vital Farms during the 4th quarter valued at approximately $41,000. Janney Montgomery Scott LLC raised its stake in Vital Farms by 4.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,844 shares of the company’s stock valued at $431,000 after acquiring an additional 992 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Vital Farms during the 4th quarter valued at approximately $8,757,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Vital Farms by 160.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the company’s stock valued at $78,000 after acquiring an additional 2,674 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Vital Farms during the 4th quarter valued at approximately $1,774,000. 73.14% of the stock is owned by hedge funds and other institutional investors.
Vital Farms Company Profile
Vital Farms, Inc, an ethical food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, ghee, liquid whole eggs, and egg bite products. Vital Farms, Inc was founded in 2007 and is headquartered in Austin, Texas.
- Get a free copy of the StockNews.com research report on Vital Farms (VITL)
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