The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $34.83 Consensus Target Price from Brokerages

The Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $34.83.

A number of equities research analysts have commented on the company. Bank of America increased their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company increased their price objective on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research note on Monday, January 27th.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $39.38 on Friday. The firm’s 50-day moving average is $36.14 and its two-hundred day moving average is $31.50. Vita Coco has a 12-month low of $19.86 and a 12-month high of $39.74. The company has a market capitalization of $2.23 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares in the company, valued at approximately $3,914,460.80. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Corey Baker sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total value of $74,560.00. Following the sale, the chief financial officer now owns 44,346 shares of the company’s stock, valued at $1,653,218.88. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,100 shares of company stock valued at $4,060,373. Insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after acquiring an additional 101,823 shares in the last quarter. Victory Capital Management Inc. boosted its position in Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. State Street Corp increased its holdings in Vita Coco by 4.7% in the 3rd quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after purchasing an additional 39,431 shares in the last quarter. Finally, Woodson Capital Management LP purchased a new position in Vita Coco in the third quarter valued at about $19,224,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.