Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) Target Price at $34.57

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.57.

A number of equities research analysts have recently weighed in on COCO shares. Wells Fargo & Company dropped their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Stephens reissued an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Finally, The Goldman Sachs Group upped their price target 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.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares in the company, valued at $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Vita Coco by 200.6% in the 3rd quarter. Barclays PLC now owns 69,504 shares of the company's stock worth $1,969,000 after acquiring an additional 46,385 shares in the last quarter. Pier Capital LLC lifted its stake in shares of Vita Coco by 39.6% during the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company's stock valued at $7,405,000 after buying an additional 56,879 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Vita Coco by 21.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock valued at $13,034,000 after purchasing an additional 80,128 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Vita Coco during the 4th quarter valued at approximately $7,985,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Vita Coco during the fourth quarter valued at approximately $399,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Stock Up 2.2 %

Shares of NASDAQ:COCO traded up $0.65 during midday trading on Thursday, hitting $30.77. The stock had a trading volume of 170,756 shares, compared to its average volume of 598,872. Vita Coco has a 12 month low of $23.40 and a 12 month high of $40.32. The company has a market cap of $1.75 billion, a P/E ratio of 31.02, a PEG ratio of 2.25 and a beta of 0.38. The business's 50-day simple moving average is $32.48 and its 200-day simple moving average is $34.28.

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.