Chesapeake Capital Corp IL Decreases Stock Holdings in Vital Farms, Inc. (NASDAQ:VITL)

Chesapeake Capital Corp IL cut its holdings in shares of Vital Farms, Inc. (NASDAQ:VITL) by 51.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,490 shares of the company’s stock after selling 17,449 shares during the quarter. Vital Farms makes up 1.0% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 19th largest holding. Chesapeake Capital Corp IL’s holdings in Vital Farms were worth $771,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in VITL. 1620 Investment Advisors Inc. purchased a new stake in Vital Farms in the second quarter worth $42,000. CWM LLC increased its holdings in Vital Farms by 162.9% in the 2nd quarter. CWM LLC now owns 1,057 shares of the company’s stock worth $49,000 after acquiring an additional 655 shares during the last quarter. nVerses Capital LLC increased its holdings in Vital Farms by 66.7% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $94,000 after acquiring an additional 800 shares during the last quarter. Quest Partners LLC bought a new stake in Vital Farms in the 2nd quarter valued at about $97,000. Finally, New York State Common Retirement Fund lifted its holdings in Vital Farms by 49.0% during the fourth quarter. New York State Common Retirement Fund now owns 10,169 shares of the company’s stock valued at $160,000 after purchasing an additional 3,346 shares during the last quarter. 98.59% of the stock is currently owned by institutional investors.

Vital Farms Price Performance

VITL stock opened at $30.90 on Tuesday. The firm has a 50 day moving average of $35.92 and a 200-day moving average of $32.65. 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 firm has a market capitalization of $1.30 billion, a P/E ratio of 36.35 and a beta of 0.97. Vital Farms, Inc. has a 12 month low of $10.30 and a 12 month high of $48.41.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm 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%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. As a group, sell-side analysts predict that Vital Farms, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,381 shares of the firm’s stock in a transaction dated 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 owns 427,839 shares of the company’s stock, valued at approximately $18,700,842.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction on Friday, July 19th. The shares were 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 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. Also, CEO Russell Diez-Canseco sold 44,381 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.71, for a total transaction 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 $18,700,842.69. The disclosure for this sale can be found here. Insiders sold a total of 92,381 shares of company stock worth $3,911,254 over the last ninety days. 30.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on VITL. DA Davidson lifted their target price on shares of Vital Farms from $28.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen upgraded shares of Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus lowered their target price on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Vital Farms has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Vital Farms Company 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.