Vital Farms (NASDAQ:VITL) Releases Earnings Results, Beats Expectations By $0.02 EPS

Vital Farms (NASDAQ:VITL) announced its quarterly earnings data on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02, Briefing.com reports. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $145.27 million. Vital Farms had a net margin of 8.68% and a return on equity of 23.29%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Performance

VITL opened at $30.91 on Friday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 27.60 and a beta of 0.97. The company has a fifty day moving average of $35.01 and a 200 day moving average of $36.65. Vital Farms has a fifty-two week low of $11.55 and a fifty-two week high of $48.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50.

Insider Activity at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.07, for a total transaction of $1,789,245.71. Following the completion of the transaction, the chief executive officer now owns 537,349 shares in the company, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Vital Farms news, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $39.09, for a total transaction of $938,160.00. Following the completion of the transaction, the insider now owns 7,194,777 shares in the company, valued at $281,243,832.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction on Monday, October 14th. The shares were 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 $21,531,574.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, August 9th. DA Davidson increased their price objective on shares of Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen reduced their price objective on shares of Vital Farms from $46.00 to $41.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Vital Farms presently has an average rating of “Moderate Buy” and a consensus price target of $38.75.

About Vital Farms

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.