Mackenzie Financial Corp Invests $192,000 in Vital Farms, Inc. (NASDAQ:VITL)

Mackenzie Financial Corp bought a new position in shares of Vital Farms, Inc. (NASDAQ:VITL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,260 shares of the company’s stock, valued at approximately $192,000.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vital Farms by 52.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,196 shares of the company’s stock worth $95,000 after purchasing an additional 2,833 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Vital Farms during the third quarter valued at approximately $119,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Vital Farms in the 4th quarter valued at approximately $127,000. Hsbc Holdings PLC boosted its stake in Vital Farms by 15.2% in the 3rd quarter. Hsbc Holdings PLC now owns 15,905 shares of the company’s stock worth $184,000 after purchasing an additional 2,094 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Vital Farms by 24.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,495 shares of the company’s stock worth $191,000 after purchasing an additional 3,270 shares in the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jason Dale sold 14,006 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $16.03, for a total transaction of $224,516.18. Following the transaction, the chief operating officer now owns 48,455 shares of the company’s stock, valued at approximately $776,733.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Vital Farms news, Chairman Matthew Ohayer sold 100,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $21.38, for a total transaction of $2,138,000.00. Following the completion of the transaction, the chairman now owns 7,582,777 shares of the company’s stock, valued at approximately $162,119,772.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jason Dale sold 14,006 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $16.03, for a total value of $224,516.18. Following the completion of the sale, the chief operating officer now directly owns 48,455 shares in the company, valued at $776,733.65. The disclosure for this sale can be found here. Insiders sold 260,125 shares of company stock valued at $5,580,996 over the last quarter. Insiders own 30.20% of the company’s stock.

Vital Farms Price Performance

Shares of VITL opened at $26.84 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.49 and a current ratio of 3.00. The firm has a market cap of $1.12 billion, a PE ratio of 46.28 and a beta of 0.88. The firm’s 50 day moving average price is $22.41 and its 200 day moving average price is $16.83. Vital Farms, Inc. has a twelve month low of $10.00 and a twelve month high of $27.41.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $135.81 million for the quarter, compared to the consensus estimate of $131.10 million. Vital Farms had a net margin of 5.42% and a return on equity of 14.22%. During the same quarter last year, the firm earned $0.04 EPS. As a group, research analysts expect that Vital Farms, Inc. will post 0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VITL shares. Lake Street Capital raised their target price on Vital Farms from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus raised their price objective on Vital Farms from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet upgraded shares of Vital Farms from a “c” rating to a “b-” rating in a research report on Monday, March 18th. Finally, William Blair began coverage on shares of Vital Farms in a report on Wednesday, April 10th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

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.