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In addition to the sale, McKeon exercised stock options to acquire 12,300 shares of common stock at a price of $3.2461 per share. Following these transactions, McKeon holds 46,203 shares of Vital Farms common stock. With the stock trading near its 52-week high of $48.41, InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of the company's valuation and growth prospects. With the stock trading near its 52-week high of $48.41, InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of the company's valuation and growth prospects.
In addition to the sale, McKeon exercised stock options to acquire 12,300 shares of common stock at a price of $3.2461 per share. Following these transactions, McKeon holds 46,203 shares of Vital Farms common stock.
In other recent news, Vital Farms recently reported a 31.3% increase in its third-quarter net revenue, totaling $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. TD Cowen raised its price target for Vital Farms to $49.00, maintaining a Buy rating, following the announcement of a new capacity expansion plan. Lake Street Capital Markets reaffirmed its Buy rating and a price target of $50.00, expressing confidence in Vital Farms' potential. However, Jefferies adjusted the price target for Vital Farms to $41.00, reduced from the previous $45.00, while maintaining a Buy rating. These are recent developments that reflect the company's strong financial health and ambitious expansion plans. Vital Farms has set a target of $1 billion in net revenue by 2027 and expects to exceed its original annual revenue guidance for 2024, which stands at least $600 million. 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.
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