Vita Coco (NASDAQ:COCO) Price Target Raised to $41.00

Key Points

• Morgan Stanley raised its price target for Vita Coco from $38.00 to $41.00, indicating a potential upside of 4.07% from the previous close, while maintaining an "equal weight" rating on the stock.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $39.00 and several firms recently adjusting their ratings.
• In recent insider trading activity, Chairman Michael Kirban sold 30,000 shares of the company's stock, reflecting a 1.84% decrease in his ownership, while a major shareholder sold 3,000,000 shares leading to a significant reduction in their stake.

Vita Coco (NASDAQ:COCO - Get Free Report) had its price objective hoisted by investment analysts at Morgan Stanley from $38.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 4.07% from the company's previous close.

Several other brokerages also recently weighed in on COCO. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Wells Fargo & Company raised their price objective on Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research note on Wednesday, August 20th. Finally, Needham & Company LLC assumed coverage on Vita Coco in a report on Wednesday. They set a "hold" rating on the stock. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.00.

Vita Coco Price Performance

Shares of COCO traded down $0.91 during mid-day trading on Thursday, reaching $39.40. The stock had a trading volume of 867,976 shares, compared to its average volume of 782,637. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 2.18 and a beta of 0.36. The business's fifty day moving average is $36.64 and its 200 day moving average is $34.89. Vita Coco has a 52-week low of $25.79 and a 52-week high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $168.76 million for the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Michael Kirban sold 30,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $40.77, for a total value of $122,310,000.00. Following the completion of the transaction, the insider owned 4,097,161 shares of the company's stock, valued at approximately $167,041,253.97. This represents a 42.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,391,133 shares of company stock worth $138,083,006. Corporate insiders own 32.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC grew its holdings in Vita Coco by 47.9% during the second quarter. Squarepoint Ops LLC now owns 18,884 shares of the company's stock valued at $682,000 after purchasing an additional 6,120 shares during the period. Ranger Investment Management L.P. increased its stake in Vita Coco by 7.3% in the second quarter. Ranger Investment Management L.P. now owns 225,175 shares of the company's stock valued at $8,129,000 after acquiring an additional 15,240 shares during the last quarter. Cim LLC increased its stake in Vita Coco by 3.8% in the second quarter. Cim LLC now owns 13,904 shares of the company's stock valued at $502,000 after acquiring an additional 514 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Vita Coco by 113.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $168,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Vita Coco in the second quarter worth about $206,000. 88.49% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.