Vita Coco (NASDAQ:COCO) Price Target Raised to $40.00

Vita Coco (NASDAQ:COCO) had its price target raised by Wells Fargo & Company from $33.00 to $40.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Craig Hallum increased their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.14.

Vita Coco Stock Down 0.1 %

COCO opened at $33.98 on Tuesday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.42 and a beta of 0.31. The firm’s fifty day simple moving average is $35.51 and its two-hundred day simple moving average is $30.11. Vita Coco has a 52-week low of $19.41 and a 52-week high of $37.88.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same period last year, the company posted $0.26 EPS. Vita Coco’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the sale, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,929 shares of company stock worth $5,324,683. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after buying an additional 960 shares during the period. US Bancorp DE boosted its position in shares of Vita Coco by 8.5% during the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after buying an additional 1,178 shares during the period. Captrust Financial Advisors grew its stake in shares of Vita Coco by 7.2% in the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock valued at $603,000 after buying an additional 1,433 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vita Coco by 25.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.