Envestnet Asset Management Inc. Buys 20,389 Shares of Vital Farms, Inc. $VITL

Envestnet Asset Management Inc. boosted its stake in shares of Vital Farms, Inc. (NASDAQ:VITL) by 10.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,450 shares of the company’s stock after acquiring an additional 20,389 shares during the period. Envestnet Asset Management Inc. owned 0.49% of Vital Farms worth $9,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Campbell Newman Asset Management Inc. grew its holdings in shares of Vital Farms by 0.4% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 68,724 shares of the company’s stock worth $2,828,000 after purchasing an additional 291 shares in the last quarter. Assetmark Inc. lifted its position in Vital Farms by 18.9% during the second quarter. Assetmark Inc. now owns 3,153 shares of the company’s stock worth $121,000 after purchasing an additional 501 shares during the period. Cim LLC grew its stake in Vital Farms by 5.6% during the second quarter. Cim LLC now owns 12,551 shares of the company’s stock worth $483,000 after buying an additional 670 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Vital Farms in the 3rd quarter valued at about $28,000. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Vital Farms by 10.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,953 shares of the company’s stock valued at $306,000 after buying an additional 734 shares in the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Vital Farms news, insider Matthew Ohayer sold 25,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $30.85, for a total value of $771,250.00. Following the sale, the insider owned 6,361,190 shares in the company, valued at approximately $196,242,711.50. The trade was a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Russell Diez-Canseco sold 16,734 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.05, for a total value of $586,526.70. Following the transaction, the chief executive officer owned 649,684 shares of the company’s stock, valued at $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,734 shares of company stock worth $2,921,477 over the last ninety days. Company insiders own 21.30% of the company’s stock.

Vital Farms Price Performance

VITL stock opened at $27.55 on Friday. The company has a market capitalization of $1.23 billion, a P/E ratio of 20.87 and a beta of 1.10. The company has a fifty day moving average price of $29.66 and a 200-day moving average price of $36.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.65. Vital Farms, Inc. has a 52-week low of $25.51 and a 52-week high of $53.13.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of Vital Farms in a research report on Tuesday, January 20th. Morgan Stanley lowered their price target on Vital Farms from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. BMO Capital Markets decreased their target price on Vital Farms from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. Mizuho dropped their target price on shares of Vital Farms from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Finally, DA Davidson set a $47.00 price target on shares of Vital Farms and gave the company a “buy” rating in a research note on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vital Farms currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.91.

Vital Farms Profile

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.