Vital Farms (NASDAQ:VITL) Major Shareholder Matthew Ohayer Sells 23,250 Shares of Company Stock

Vital Farms, Inc. (NASDAQ:VITL) major shareholder Matthew O’Hayer sold 23,250 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $9.56, for a total value of $222,270.00. Following the sale, the insider directly owned 6,238,720 shares in the company, valued at $59,642,163.20. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Matthew Ohayer also recently made the following trade(s):

• On Monday, November 9th, Matthew O’Hayer sold 66,200 shares of Vital Farms stock. The stock was sold at an average price of $9.68, for a total value of $640,816.00.
• On Friday, November 6th, Matthew O’Hayer sold 3,550 shares of Vital Farms stock. The stock was sold at an average price of $9.53, for a total value of $33,831.50.

Vital Farms Stock Performance

VITL traded up $0.10 during midday trading on Friday, hitting $9.07. 1,243,951 shares of the company traded hands, compared to its average volume of 1,908,280. The company has a quick ratio of 1.20, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $389.47 million, a PE ratio of -16.49 and a beta of 1.16. The company’s 50-day moving average is $9.59 and its 200 day moving average is $13.21. Vital Farms, Inc. has a 52 week low of $7.95 and a 52 week high of $36.10.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Vital Farms had a negative return on equity of 3.74% and a negative net margin of 3.03%. The company had revenue of $182.16 million during the quarter, compared to the consensus estimate of $181.78 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, research analysts expect that Vital Farms, Inc. will post -0.82 EPS for the current year.

Analysts Set New Price Targets

VITL has been the subject of several research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Vital Farms in a report on Tuesday, November 10th. TD Cowen lowered their target price on Vital Farms from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, October 13th. BMO Capital Markets reissued an “outperform” rating on shares of Vital Farms in a report on Wednesday, November 4th. Craig Hallum raised Vital Farms from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, November 3rd. Finally, Needham & Company LLC cut their price target on Vital Farms from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Seven research 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. According to MarketBeat.com, Vital Farms has a consensus rating of “Hold” and a consensus price target of $12.64.

Institutional Investors Weigh In On Vital Farms

Hedge funds have recently modified their holdings of the business. FORA Capital LLC bought a new position in shares of Vital Farms during the 3rd quarter valued at approximately $106,000. Pathstone Holdings LLC boosted its position in shares of Vital Farms by 100.5% during the third quarter. Pathstone Holdings LLC now owns 49,080 shares of the company’s stock worth $455,000 after acquiring an additional 24,598 shares during the last quarter. Marshall Wace LLP purchased a new position in Vital Farms during the third quarter valued at $7,054,000. First Trust Advisors LP grew its stake in Vital Farms by 78.3% during the third quarter. First Trust Advisors LP now owns 176,649 shares of the company’s stock valued at $1,639,000 after acquiring an additional 77,590 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in Vital Farms during the third quarter valued at $136,000. Institutional investors own 98.59% of the company’s stock.

Vital Farms Company Profile

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.