Vital Farms (NASDAQ:VITL) Share Price Breaks Below Fifty Day Moving Average on Insider Selling
by Mitch Edgeman · The Markets DailyVital Farms, Inc. (NASDAQ:VITL – Get Free Report) passed below its 50 day moving average during trading on Wednesday after an insider sold shares in the company. The stock has a 50 day moving average of $9.63 and traded as low as $9.37. Vital Farms shares last traded at $9.47, with a volume of 1,460,996 shares changing hands.
Specifically, major shareholder Matthew O’Hayer sold 66,200 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $9.68, for a total value of $640,816.00. Following the completion of the sale, the insider owned 6,261,970 shares of the company’s stock, valued at approximately $60,615,869.60. This represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Matthew O’Hayer sold 3,550 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $9.53, for a total transaction of $33,831.50. Following the completion of the sale, the insider directly owned 6,328,170 shares in the company, valued at approximately $60,307,460.10. The trade was a 0.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.
Analysts Set New Price Targets
A number of brokerages have weighed in on VITL. UBS Group reissued a “buy” rating and set a $18.00 price target on shares of Vital Farms in a research report on Tuesday. Stifel Nicolaus cut their price objective on Vital Farms from $11.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, October 15th. Zacks Research upgraded Vital Farms from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Vital Farms in a research note on Wednesday, November 4th. Finally, Needham & Company LLC decreased their target price on Vital Farms from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.58.
View Our Latest Stock Analysis on Vital Farms
Vital Farms Price Performance
The company’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $13.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.20. The stock has a market capitalization of $406.60 million, a price-to-earnings ratio of -17.22 and a beta of 1.16.
Vital Farms (NASDAQ:VITL – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The firm had revenue of $182.16 million during the quarter, compared to analyst estimates of $181.78 million. Vital Farms had a negative net margin of 3.03% and a negative return on equity of 3.74%. Vital Farms’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Research analysts forecast that Vital Farms, Inc. will post -0.82 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Vital Farms during the second quarter worth $60,153,000. Van Berkom & Associates Inc. grew its stake in shares of Vital Farms by 1,998.7% in the first quarter. Van Berkom & Associates Inc. now owns 2,261,533 shares of the company’s stock valued at $31,933,000 after acquiring an additional 2,153,775 shares in the last quarter. Principal Financial Group Inc. increased its position in Vital Farms by 41.6% during the first quarter. Principal Financial Group Inc. now owns 2,153,008 shares of the company’s stock worth $30,400,000 after acquiring an additional 632,537 shares during the period. Dimensional Fund Advisors LP increased its position in Vital Farms by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,405,032 shares of the company’s stock worth $19,836,000 after acquiring an additional 447,728 shares during the period. Finally, Cibc World Market Inc. bought a new position in Vital Farms during the second quarter worth about $12,975,000. 98.59% of the stock is owned by institutional investors and hedge funds.
About Vital Farms
Vital Farms, Inc. is a food company that produces and markets pasture-raised eggs and butter. Its products are sold under the Vital Farms brand and include shell eggs, hard-boiled eggs and butter. Founded in 2007 and headquartered in Austin, Texas, the company works with a network of family farms that raise hens on pasture. Vital Farms sources its products from farms primarily across the United States. The company distributes its products through grocery retailers and other food channels, including foodservice.