Vital Farms (NASDAQ:VITL) Given New $53.00 Price Target at Mizuho

Vital Farms (NASDAQ:VITL) had its price target raised by equities research analysts at Mizuho from $45.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 14.69% from the company’s previous close.

Several other brokerages have also weighed in on VITL. Stifel Nicolaus increased their target price on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Lake Street Capital set a $60.00 price objective on Vital Farms and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets reiterated an “outperform” rating on shares of Vital Farms in a report on Friday. Telsey Advisory Group raised their price target on shares of Vital Farms from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Morgan Stanley reduced their price target on shares of Vital Farms from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $48.20.

Vital Farms Trading Up 0.1%

NASDAQ VITL opened at $46.21 on Monday. The company has a market cap of $2.07 billion, a P/E ratio of 41.26 and a beta of 0.94. Vital Farms has a 12 month low of $27.91 and a 12 month high of $46.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.48 and a quick ratio of 2.10. The company has a 50-day moving average of $37.05 and a 200-day moving average of $34.93.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $184.77 million during the quarter, compared to analyst estimates of $170.28 million. Vital Farms had a net margin of 7.84% and a return on equity of 18.40%. Vital Farms’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities analysts predict that Vital Farms will post 1.11 earnings per share for the current year.

Insider Activity at Vital Farms

In other Vital Farms news, CFO Thilo Wrede sold 1,200 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $38.97, for a total value of $46,764.00. Following the completion of the sale, the chief financial officer owned 56,187 shares of the company’s stock, valued at $2,189,607.39. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Ohayer sold 30,000 shares of Vital Farms stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $39.17, for a total transaction of $1,175,100.00. Following the sale, the insider owned 6,858,890 shares in the company, valued at $268,662,721.30. This represents a 0.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,400 shares of company stock worth $2,413,630 over the last three months. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vital Farms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VITL. Wellington Management Group LLP boosted its position in Vital Farms by 417.8% in the 4th quarter. Wellington Management Group LLP now owns 2,431,024 shares of the company’s stock valued at $91,625,000 after buying an additional 1,961,550 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Vital Farms by 1,453.0% in the first quarter. American Century Companies Inc. now owns 1,243,467 shares of the company’s stock worth $37,888,000 after acquiring an additional 1,163,399 shares in the last quarter. Nuveen LLC acquired a new position in shares of Vital Farms in the first quarter worth about $17,633,000. Lord Abbett & CO. LLC boosted its holdings in Vital Farms by 64.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,058,753 shares of the company’s stock valued at $39,904,000 after purchasing an additional 415,614 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Vital Farms during the 1st quarter valued at approximately $12,207,000. 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.