Vita Coco (NASDAQ:COCO) Given New $47.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised its price target for Vita Coco (NASDAQ:COCO) from $41.00 to $47.00, indicating an expected upside of 11.23% from the current stock price.
• Vita Coco's Q2 earnings surpassed expectations, reporting $0.38 earnings per share, which was $0.02 above analysts' estimates, with revenue increasing by 17.1% year-over-year.
• Insider selling activity has been notable, with Director Ira Liran selling 50,000 shares for approximately $2.1 million and Chairman Michael Kirban selling 30,000 shares for about $1.17 million.

Vita Coco (NASDAQ:COCO - Get Free Report) had its price objective increased by research analysts at The Goldman Sachs Group from $41.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 11.23% from the company's current price.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC initiated coverage on Vita Coco in a report on Wednesday, September 24th. They set a "hold" rating on the stock. Wells Fargo & Company boosted their target price on Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Morgan Stanley boosted their target price on Vita Coco from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, September 25th. Finally, Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a report on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.75.

Vita Coco Trading Down 0.4%

COCO stock traded down $0.16 during trading on Thursday, reaching $42.26. 328,905 shares of the stock were exchanged, compared to its average volume of 788,129. Vita Coco has a twelve month low of $25.79 and a twelve month high of $43.28. The company has a market capitalization of $2.40 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. The stock has a 50 day simple moving average of $36.88 and a 200-day simple moving average of $35.12.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. During the same period last year, the business earned $0.32 earnings per share. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. Equities analysts predict that Vita Coco will post 1.07 EPS for the current year.

Insider Activity

In other news, Director Ira Liran sold 50,000 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director directly owned 692,579 shares of the company's stock, valued at $29,088,318. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00. Following the transaction, the chairman directly owned 1,599,049 shares of the company's stock, valued at $62,618,758.84. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,425,906 shares of company stock worth $139,546,526. 32.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COCO. Voya Investment Management LLC boosted its position in Vita Coco by 3,376.9% during the first quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after purchasing an additional 570,087 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Vita Coco during the 2nd quarter worth approximately $9,627,000. Wellington Management Group LLP lifted its holdings in Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after purchasing an additional 258,521 shares during the last quarter. Victory Capital Management Inc. boosted its position in Vita Coco by 62.2% during the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock worth $19,776,000 after purchasing an additional 247,339 shares during the period. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of Vita Coco in the second quarter valued at $5,054,000. 88.49% of the stock is 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.

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