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Russell Diez-Canseco, the President and CEO of Vital Farms, Inc. (NASDAQ:VITL), recently sold a significant amount of the company's stock. According to a recent SEC filing, Diez-Canseco disposed of shares worth approximately $1.88 million on January 13, 2025. The shares were sold at prices ranging from $40.55 to $43.30 each. The transaction comes as Vital Farms, currently valued at $1.86 billion, has delivered an impressive 175.93% return over the past year.
The transactions were executed under a pre-established Rule 10b5-1 trading plan. Following these sales, Diez-Canseco continues to hold 668,202 shares of Vital Farms directly. According to InvestingPro, the company maintains excellent financial health with a "GREAT" overall score, supported by strong balance sheet metrics.
Additionally, Diez-Canseco exercised stock options, acquiring 52,500 shares at a price of $5.3286 each, amounting to a total transaction value of $279,751. These transactions reflect the CEO's ongoing management of his holdings in the company, maintaining a significant stake in Vital Farms. For deeper insights into Vital Farms' valuation and financial metrics, InvestingPro subscribers can access comprehensive analysis including 13 additional ProTips and detailed financial health indicators.
In other recent news, Vital Farms reported significant growth in its third-quarter net revenue, which increased by 31.3% to $145 million. The company's gross margin improved to 36.9% for the quarter, while the adjusted EBITDA increased by 64.5% to $15.2 million. Vital Farms aims to achieve $1 billion in net revenue by 2027, supported by strategic expansion plans, including a new facility in Indiana.
TD Cowen raised its price target on Vital Farms stock to $49.00, maintaining a Buy rating. This increase came after the company announced a new capacity expansion plan, bolstering analyst confidence in the company's potential to surpass its sales goal. Jefferies, however, adjusted the price target for Vital Farms to $41.00, reduced from the previous $45.00, while continuing to endorse the stock with a Buy rating, and Lake Street Capital Markets reaffirmed its Buy rating with a price target of $50.00.
In terms of other company news, Vital Farms has made significant executive hires, including Reena Van Hoven as Chief People Officer and Joe Holland as Chief Supply Chain Officer. Despite anticipating slower fourth-quarter production growth due to maintenance, Vital Farms expects to exceed its original annual revenue guidance for 2024. The updated revenue guidance for fiscal 2024 stands at least $600 million, reflecting a growth expectation of 27%.
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