Vital Farms (NASDAQ:VITL) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Vital Farms (NASDAQ:VITL) announced its quarterly earnings results on Thursday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02, Briefing.com reports. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $145.27 million. Vital Farms had a return on equity of 22.77% and a net margin of 8.70%. Vital Farms’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Performance

Shares of NASDAQ:VITL opened at $30.91 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.50 and a quick ratio of 3.03. The business’s 50 day moving average price is $35.01 and its 200-day moving average price is $36.58. The firm has a market capitalization of $1.33 billion, a PE ratio of 29.16 and a beta of 0.97. Vital Farms has a 1 year low of $11.55 and a 1 year high of $48.41.

Insider Transactions at Vital Farms

In other news, insider Matthew Ohayer sold 24,000 shares of Vital Farms stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $39.09, for a total value of $938,160.00. Following the sale, the insider now directly owns 7,194,777 shares of the company’s stock, valued at $281,243,832.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the transaction, the chief executive officer now owns 537,349 shares of the company’s stock, valued at approximately $21,531,574.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Ohayer sold 24,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $39.09, for a total value of $938,160.00. Following the transaction, the insider now directly owns 7,194,777 shares in the company, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 27.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stifel Nicolaus dropped their price objective on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, August 9th. DA Davidson raised their price objective on Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, TD Cowen dropped their price objective on Vital Farms from $46.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.75.

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.