Morgan Stanley Increases Vita Coco (NASDAQ:COCO) Price Target to $38.00

Key Points

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Vita Coco (NASDAQ:COCO - Free Report) had its price target hoisted by Morgan Stanley from $35.00 to $38.00 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Evercore ISI lifted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.29.

Vita Coco Price Performance

Shares of COCO traded down $0.50 on Thursday, reaching $34.76. The company's stock had a trading volume of 889,557 shares, compared to its average volume of 691,762. The stock has a market capitalization of $1.98 billion, a P/E ratio of 32.49, a PEG ratio of 1.87 and a beta of 0.37. The stock's 50 day simple moving average is $36.22 and its two-hundred day simple moving average is $35.01. Vita Coco has a 12-month low of $24.09 and a 12-month high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company's revenue for the quarter was up 17.1% on a year-over-year basis. Analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

Insider Activity

In related news, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider owned 94,127 shares in the company, valued at approximately $3,578,708.54. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 14,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $37.03, for a total transaction of $518,420.00. Following the completion of the sale, the chairman owned 1,629,049 shares in the company, valued at $60,323,684.47. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,846,562 shares of company stock valued at $131,933,805. Company insiders own 32.30% of the company's stock.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently bought and sold shares of COCO. Coppell Advisory Solutions LLC increased its position in Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Vita Coco in the second quarter worth $50,000. CWM LLC increased its position in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Militia Capital Partners LP increased its position in Vita Coco by 60.0% in the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock worth $98,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Vita Coco during the first quarter valued at $111,000. 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.