The Vanguard Group, Inc. recently announced the acquisition of new stake in Vital Farms Inc. (NASDAQ:VITL). The institutional investor has increased its shareholding in the Consumer Defensive company by 36.18% to 1.95 million shares with purchase of 0.52 million shares. This fresh investment now brings its stake to 4.79% valued currently at $29.11 million. In addition, William Blair Investment Manageme raised its holdings by 64753.0 to 1.28 million shares. And American Century Investment Manag has lifted its position by 0.01% or 117.0 shares – to 1.21 million shares.
With over 0.39 million Vital Farms Inc. (VITL) shares trading Tuesday and a closing price of $17.40 on the day, the dollar volume was approximately $6.82 million. The shares have shown a positive half year performance of 97.06% and its price on 01/17/23 gained nearly 6.81%. Currently, there are 40.70M common shares owned by the public and among those 26.02M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for VITL have a consensus price objective of $17.57. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $14.50. The average price target is 0.97% above its recent price level and a downside to the estimated low will see the stock lose -20.0% over that period. But an upside of 20.91% will see the stock hit the forecast high price target while median target price for the stock is $17.00.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 431,076 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 296,710 shares.
The top 3 mutual fund holders in Vital Farms Inc. are AB Small Cap Growth Portfolio, American Century Growth Fund, and Pictet – Nutrition. AB Small Cap Growth Portfolio owns 1.4 million shares of the company’s stock, all valued at over $20.95 million. The company sold 17110.0 shares recently to bring their total holdings to about 3.45% of the shares outstanding. Pictet – Nutrition bought 0.28 million shares to bring its total holdings to over 0.8 million shares at a value of $11.86 million. Pictet – Nutrition now owns shares totaling to 1.95% of the shares outstanding.
Shares of Vital Farms Inc. (NASDAQ: VITL) opened at $16.34, up $0.05 from a prior closing price of $16.29. However, the script later moved the day high at 17.92, up 6.81%. The company’s stock has a 5-day price change of 14.02% and 43.45% over the past three months. VITL shares are trading 16.62% year to date (YTD), with the 12-month market performance down to -6.05% lower. It has a 12-month low price of $7.89 and touched a high of $18.68 over the same period. VITL has an average intraday trading volume of 170.89K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.45%, 17.81%, and 41.68% respectively.
Institutional ownership of Vital Farms Inc. (NASDAQ: VITL) shares accounts for 63.20% of the company’s 40.70M shares outstanding. Mutual fund holders own 32.72%, while other institutional holders and individual stakeholders account for 33.46% and 26.23% respectively.
It has a market capitalization of $689.56M. The earnings-per-share (ttm) stands at -$0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.04% over the week and 4.19% over the month.
Analysts forecast that Vital Farms Inc. (VITL) will achieve an EPS of $0.01 for the current quarter, $0.03 for the next quarter and $0.2 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -79.00%, and 257.14% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Vital Farms Inc. (VITL) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VITL, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on September 30, 2022, with the firm’s price target at $16. Morgan Stanley coverage for the Vital Farms Inc. (VITL) stock in a research note released on July 20, 2022 offered a Overweight rating with a price target of $12. Cowen was of a view on September 10, 2021 that the stock is Outperform, while DA Davidson gave the stock Buy rating on March 30, 2021, issuing a price target of $28. Stifel on their part issued Buy rating on August 25, 2020.