Divisadero Street Capital Management LP Acquires 564,711 Shares of Vital Farms, Inc. $VITL

Divisadero Street Capital Management LP raised its holdings in Vital Farms, Inc. (NASDAQ:VITL) by 131.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 993,338 shares of the company’s stock after purchasing an additional 564,711 shares during the period. Vital Farms makes up about 1.8% of Divisadero Street Capital Management LP’s portfolio, making the stock its 15th largest holding. Divisadero Street Capital Management LP’s holdings in Vital Farms were worth $40,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VITL. Exchange Traded Concepts LLC acquired a new stake in shares of Vital Farms in the third quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its stake in Vital Farms by 53.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,197 shares of the company’s stock worth $135,000 after acquiring an additional 1,116 shares during the period. US Bancorp DE increased its stake in Vital Farms by 48.3% during the 3rd quarter. US Bancorp DE now owns 3,369 shares of the company’s stock worth $139,000 after acquiring an additional 1,098 shares during the period. State of Wyoming acquired a new position in Vital Farms in the 2nd quarter valued at $141,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Vital Farms in the 2nd quarter valued at $178,000. Institutional investors and hedge funds own 98.59% of the company’s stock.

Vital Farms Price Performance

Shares of NASDAQ:VITL opened at $17.21 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.61 and a current ratio of 2.16. Vital Farms, Inc. has a 52 week low of $17.00 and a 52 week high of $53.13. The firm has a market cap of $771.01 million, a PE ratio of 11.95 and a beta of 1.14. The firm’s fifty day moving average is $25.96 and its 200-day moving average is $33.79.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $213.55 million during the quarter, compared to analyst estimates of $212.83 million. Vital Farms had a net margin of 8.73% and a return on equity of 20.69%. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Sell-side analysts predict that Vital Farms, Inc. will post 1.11 earnings per share for the current year.

Insider Activity at Vital Farms

In other news, Director Karl Khoury bought 5,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $18.45 per share, with a total value of $92,250.00. Following the transaction, the director owned 119,789 shares of the company’s stock, valued at $2,210,107.05. This trade represents a 4.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Matthew Ohayer sold 20,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $20.33, for a total transaction of $406,600.00. Following the completion of the sale, the insider directly owned 6,321,190 shares in the company, valued at approximately $128,509,792.70. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,000 shares of company stock worth $1,736,050 over the last quarter. 21.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VITL shares. Needham & Company LLC reduced their price objective on shares of Vital Farms from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. BMO Capital Markets dropped their price target on Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Telsey Advisory Group cut their price target on Vital Farms from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, Mizuho reduced their price target on Vital Farms from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

About Vital Farms

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms’ supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.