Vital Farms, Inc. (NASDAQ:VITL) Short Interest Down 35.0% in June

Vital Farms, Inc. (NASDAQ:VITLGet Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 7,412,289 shares, a decline of 35.0% from the June 15th total of 11,401,769 shares. Currently, 18.0% of the shares of the company are sold short. Based on an average daily volume of 3,197,113 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

VITL has been the subject of several research analyst reports. William Blair reiterated a “market perform” rating on shares of Vital Farms in a research report on Friday, May 8th. TD Cowen downgraded shares of Vital Farms from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $16.00 in a report on Wednesday, April 8th. Telsey Advisory Group cut Vital Farms from an “outperform” rating to a “market perform” rating and set a $11.00 target price on the stock. in a research note on Friday, May 8th. Needham & Company LLC dropped their price target on Vital Farms from $20.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Vital Farms from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vital Farms currently has a consensus rating of “Hold” and a consensus target price of $24.08.

Read Our Latest Stock Report on VITL

Insider Transactions at Vital Farms

In other news, insider Joseph Michael Holland acquired 12,484 shares of Vital Farms stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $8.00 per share, with a total value of $99,872.00. Following the completion of the acquisition, the insider owned 38,150 shares in the company, valued at approximately $305,200. This trade represents a 48.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Nicholas Pappas bought 3,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $8.51 per share, for a total transaction of $29,785.00. Following the transaction, the insider owned 85,169 shares of the company’s stock, valued at approximately $724,788.19. This represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 38,700 shares of company stock worth $320,864 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Vital Farms

Large investors have recently bought and sold shares of the company. Van Berkom & Associates Inc. raised its position in shares of Vital Farms by 1,998.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 2,261,533 shares of the company’s stock worth $31,933,000 after acquiring an additional 2,153,775 shares in the last quarter. Wasatch Advisors LP raised its holdings in Vital Farms by 80.2% in the second quarter. Wasatch Advisors LP now owns 2,074,803 shares of the company’s stock worth $79,921,000 after purchasing an additional 923,507 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Vital Farms during the fourth quarter valued at $25,534,000. Balyasny Asset Management L.P. grew its position in shares of Vital Farms by 466.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 503,894 shares of the company’s stock worth $16,094,000 after buying an additional 641,394 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Vital Farms by 41.6% in the 1st 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 in the last quarter. 98.59% of the stock is owned by institutional investors.

Vital Farms Stock Performance

Vital Farms stock opened at $13.18 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01. The firm has a market cap of $564.76 million, a P/E ratio of 12.67 and a beta of 1.07. Vital Farms has a 1-year low of $7.95 and a 1-year high of $53.13. The firm has a 50-day moving average of $10.70 and a 200-day moving average of $17.47.

Vital Farms (NASDAQ:VITLGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The business had revenue of $187.16 million for the quarter, compared to the consensus estimate of $182.40 million. Vital Farms had a net margin of 6.10% and a return on equity of 14.47%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Sell-side analysts expect that Vital Farms will post -0.46 EPS for the current year.

About Vital Farms

(Get Free Report)

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms’ supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.

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