Quest Partners LLC Makes New Investment in Vital Farms, Inc. (NASDAQ:VITL)

Quest Partners LLC bought a new position in shares of Vital Farms, Inc. (NASDAQ:VITL) during the second quarter, Holdings Channel.com reports. The firm bought 2,068 shares of the company’s stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emerald Advisers LLC purchased a new position in shares of Vital Farms during the 2nd quarter worth approximately $15,977,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Vital Farms during the 2nd quarter worth approximately $12,824,000. Acadian Asset Management LLC grew its holdings in shares of Vital Farms by 73.6% during the 2nd quarter. Acadian Asset Management LLC now owns 679,504 shares of the company’s stock worth $31,766,000 after acquiring an additional 288,039 shares during the period. Arizona State Retirement System purchased a new position in shares of Vital Farms during the 2nd quarter worth approximately $356,000. Finally, Rhumbline Advisers boosted its position in shares of Vital Farms by 10.7% in the 2nd quarter. Rhumbline Advisers now owns 47,165 shares of the company’s stock worth $2,206,000 after purchasing an additional 4,573 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Analysts Set New Price Targets

VITL has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price target on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen raised Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Vital Farms Stock Performance

VITL stock opened at $31.42 on Tuesday. The stock has a market capitalization of $1.35 billion, a PE ratio of 36.96 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 current ratio of 3.50, a quick ratio of 3.03 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $34.57 and its 200 day simple moving average is $33.13.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The business had revenue of $147.39 million for 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%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. As a group, research analysts forecast that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

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

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.