Rhumbline Advisers Grows Stake in Vital Farms, Inc. (NASDAQ:VITL)

Rhumbline Advisers grew its holdings in Vital Farms, Inc. (NASDAQ:VITL) by 10.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,165 shares of the company’s stock after acquiring an additional 4,573 shares during the quarter. Rhumbline Advisers owned about 0.11% of Vital Farms worth $2,206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in shares of Vital Farms during the 2nd quarter worth approximately $42,000. CWM LLC lifted its stake in shares of Vital Farms by 162.9% during the second quarter. CWM LLC now owns 1,057 shares of the company’s stock worth $49,000 after purchasing an additional 655 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of Vital Farms by 66.7% during the second quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $94,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Vital Farms by 8.6% during the second quarter. Van ECK Associates Corp now owns 4,095 shares of the company’s stock worth $192,000 after acquiring an additional 323 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Vital Farms in the first quarter valued at about $210,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Insiders Place Their Bets

In related news, insider Matthew Ohayer sold 24,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $39.58, for a total transaction of $949,920.00. Following the completion of the sale, the insider now owns 7,266,777 shares of the company’s stock, valued at $287,619,033.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $39.58, for a total transaction of $949,920.00. Following the sale, the insider now directly owns 7,266,777 shares of the company’s stock, valued at approximately $287,619,033.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Russell Diez-Canseco sold 44,381 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.71, for a total transaction of $1,939,893.51. Following the transaction, the chief executive officer now directly owns 427,839 shares of the company’s stock, valued at approximately $18,700,842.69. The disclosure for this sale can be found here. Company insiders own 30.20% of the company’s stock.

Wall Street Analyst Weigh In

VITL has been the subject of several analyst reports. TD Cowen upgraded Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, August 9th. Stifel Nicolaus lowered their target price on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Vital Farms Price Performance

VITL opened at $32.52 on Friday. The stock has a market cap of $1.37 billion, a P/E ratio of 38.26 and a beta of 0.96. Vital Farms, Inc. has a 12 month low of $10.41 and a 12 month high of $48.41. The company has a quick ratio of 3.03, a current ratio of 3.50 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $34.04 and a 200 day simple moving average of $33.22.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The company 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 22.77% and a net margin of 8.70%. Vital Farms’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, research analysts expect that Vital Farms, Inc. will post 1.11 EPS for the current year.

Vital Farms 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.