Seven Eight Capital LP Purchases New Holdings in Vital Farms, Inc. (NASDAQ:VITL)

Seven Eight Capital LP purchased a new stake in Vital Farms, Inc. (NASDAQ:VITL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,711 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Vital Farms in the second quarter valued at $42,000. CWM LLC lifted its stake in Vital Farms by 162.9% in the second quarter. CWM LLC now owns 1,057 shares of the company’s stock valued at $49,000 after acquiring an additional 655 shares during the last quarter. nVerses Capital LLC grew its position in shares of Vital Farms by 66.7% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $94,000 after acquiring an additional 800 shares during the period. Quest Partners LLC acquired a new position in shares of Vital Farms during the 2nd quarter worth about $97,000. Finally, Van ECK Associates Corp raised its holdings in shares of Vital Farms by 8.6% in the 2nd quarter. Van ECK Associates Corp now owns 4,095 shares of the company’s stock valued at $192,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.

Insider Transactions at Vital Farms

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

Vital Farms Stock Up 2.8 %

Vital Farms stock opened at $33.43 on Monday. The company’s 50-day moving average price is $33.61 and its two-hundred day moving average price is $33.53. The company has a quick ratio of 3.03, a current ratio of 3.50 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.41 billion, a P/E ratio of 39.33 and a beta of 0.96. Vital Farms, Inc. has a twelve month low of $10.41 and a twelve month high of $48.41.

Vital Farms (NASDAQ:VITL) last announced its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $147.39 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. As a group, analysts expect that Vital Farms, Inc. will post 1.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VITL shares. 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. Stifel Nicolaus reduced their target price on Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.60.

About Vital Farms

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.