Stephens Reiterates “Equal Weight” Rating for Vita Coco (NASDAQ:COCO)

Vita Coco (NASDAQ:COCO)‘s stock had its “equal weight” rating reiterated by equities research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $32.00 price target on the stock. Stephens’ price target indicates a potential upside of 7.20% from the stock’s current price.

A number of other analysts have also recently weighed in on COCO. The Goldman Sachs Group raised their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $34.57.

Vita Coco Trading Down 0.3 %

NASDAQ:COCO opened at $29.85 on Thursday. The company has a 50-day moving average of $36.12 and a 200-day moving average of $33.89. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. Vita Coco has a twelve month low of $23.00 and a twelve month high of $40.32.

Insider Activity

In related news, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares of the company’s stock, valued at approximately $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 4,052 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the sale, the chief operating officer now owns 104,108 shares of the company’s stock, valued at $3,914,460.80. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock worth $3,017,811 over the last quarter. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Vita Coco by 173.2% in the 4th quarter. Wellington Management Group LLP now owns 252,941 shares of the company’s stock worth $9,336,000 after buying an additional 160,353 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vita Coco by 1.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company’s stock worth $6,111,000 after acquiring an additional 2,587 shares in the last quarter. Woodson Capital Management LP boosted its position in Vita Coco by 4.5% during the fourth quarter. Woodson Capital Management LP now owns 709,615 shares of the company’s stock valued at $26,192,000 after purchasing an additional 30,553 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Vita Coco during the fourth quarter valued at $323,000. Finally, Millennium Management LLC grew its stake in Vita Coco by 24.9% in the fourth quarter. Millennium Management LLC now owns 25,515 shares of the company’s stock valued at $942,000 after purchasing an additional 5,087 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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.