Victory Capital Management Inc. Takes $789,000 Position in Vital Farms, Inc. (NASDAQ:VITL)

Victory Capital Management Inc. purchased a new position in Vital Farms, Inc. (NASDAQ:VITL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 22,504 shares of the company’s stock, valued at approximately $789,000.

Other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new stake in Vital Farms during the 2nd quarter valued at $42,000. CWM LLC boosted its position in shares of Vital Farms by 162.9% during the second quarter. CWM LLC now owns 1,057 shares of the company’s stock valued at $49,000 after buying an additional 655 shares during the last quarter. Quarry LP boosted its position in shares of Vital Farms by 180.4% during the second quarter. Quarry LP now owns 1,290 shares of the company’s stock valued at $60,000 after buying an additional 830 shares during the last quarter. nVerses Capital LLC raised its position in Vital Farms by 66.7% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $94,000 after buying an additional 800 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Vital Farms during the 2nd quarter valued at about $97,000. Institutional investors own 98.59% of the company’s stock.

Insider Activity

In other news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.07, for a total value of $1,789,245.71. Following the completion of the sale, the chief executive officer now directly owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This represents a 7.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $39.09, for a total transaction of $938,160.00. Following the sale, the insider now owns 7,194,777 shares in the company, valued at $281,243,832.93. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.60% of the company’s stock.

Vital Farms Stock Down 0.6 %

VITL opened at $32.34 on Friday. The firm’s 50 day simple moving average is $34.76 and its two-hundred day simple moving average is $36.73. The company has a market capitalization of $1.42 billion, a PE ratio of 28.88 and a beta of 0.97. Vital Farms, Inc. has a 1-year low of $12.44 and a 1-year high of $48.41. The company has a current ratio of 3.24, a quick ratio of 2.81 and a debt-to-equity ratio of 0.04.

Vital Farms (NASDAQ:VITL) last announced its earnings results on Thursday, November 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $145.27 million. During the same period last year, the firm earned $0.10 EPS. Vital Farms’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, equities analysts forecast that Vital Farms, Inc. will post 1.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating for the company in a report on Monday, November 11th. TD Cowen decreased their target price on shares of Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, November 8th. DA Davidson raised their price target on Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus reduced their price objective on Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.20.

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.