Long Position on VITL @ $42.00 on 6/19/2024 (Fundamentals)

Vital Farms, Inc. (VITL), 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.

Vital Farms reported earnings of $0.43 per share on revenue of $147.93 million for the first quarter ended March 2024. The consensus earnings estimate was $0.23 per share on revenue of $136.99 million. The company beat consensus estimates by 86.96% while revenue grew 24.13% on a year-over-year basis.

The company said it expects 2024 revenue of at least $575.0 million. The company's previous guidance was revenue of at least $552.0 million and the current consensus revenue estimate is $559.84 million for the year ending December 31, 2024.

Entry Point: $42.00

Trading Range: $10.23 - $44.86

Stop Loss: $40.00

Target Price: $44.00

Position closed on 6/26/2024 at price of $46.05 with a 9.64% gain in 7 days.

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