Algert Global LLC Reduces Stake in Vital Farms, Inc. (NASDAQ:VITL)

Algert Global LLC reduced its position in Vital Farms, Inc. (NASDAQ:VITL) by 29.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,492 shares of the company’s stock after selling 75,548 shares during the period. Algert Global LLC’s holdings in Vital Farms were worth $8,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of VITL. Susquehanna Fundamental Investments LLC purchased a new position in Vital Farms during the second quarter valued at $362,000. Millennium Management LLC raised its holdings in Vital Farms by 651.3% during the second quarter. Millennium Management LLC now owns 494,153 shares of the company’s stock valued at $23,112,000 after acquiring an additional 428,382 shares during the period. AQR Capital Management LLC raised its holdings in Vital Farms by 317.9% during the second quarter. AQR Capital Management LLC now owns 74,161 shares of the company’s stock valued at $3,469,000 after acquiring an additional 56,414 shares during the period. Squarepoint Ops LLC raised its holdings in Vital Farms by 230.8% during the second quarter. Squarepoint Ops LLC now owns 230,940 shares of the company’s stock valued at $10,801,000 after acquiring an additional 161,131 shares during the period. Finally, Marshall Wace LLP raised its holdings in Vital Farms by 29.7% during the second quarter. Marshall Wace LLP now owns 937,755 shares of the company’s stock valued at $43,859,000 after acquiring an additional 214,839 shares during the period. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Vital Farms Stock Up 0.9 %

Shares of NASDAQ VITL opened at $35.13 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 41.33 and a beta of 0.96. The stock has a 50 day moving average price of $33.00 and a 200 day moving average price of $33.95. Vital Farms, Inc. has a 52-week low of $10.41 and a 52-week high of $48.41.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $147.39 million during the quarter, compared to the consensus estimate of $138.41 million. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. Vital Farms’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Sell-side analysts expect that Vital Farms, Inc. will post 1.11 earnings per share for the current year.

Insider Activity

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 completion of the sale, the insider now owns 7,266,777 shares in the company, valued at approximately $287,619,033.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 7,266,777 shares in the company, valued at approximately $287,619,033.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell Diez-Canseco sold 44,381 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 427,839 shares of the company’s stock, valued at approximately $18,700,842.69. The disclosure for this sale can be found here. Company insiders own 30.20% of the company’s stock.

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.