Vita Coco (NASDAQ:COCO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Vita Coco (NASDAQ:COCO - Get Free Report) had its price target boosted by Wells Fargo & Company from $39.00 to $43.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 22.47% from the stock's previous close.

COCO has been the topic of a number of other research reports. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th. Stephens reissued an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Finally, Evercore ISI increased their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.88.

Vita Coco Stock Up 0.3%

Shares of Vita Coco stock traded up $0.09 on Friday, hitting $35.11. 121,292 shares of the company traded hands, compared to its average volume of 621,924. Vita Coco has a 12-month low of $23.56 and a 12-month high of $40.32. The company has a market cap of $1.99 billion, a PE ratio of 35.46, a PEG ratio of 2.25 and a beta of 0.38. The company has a 50-day moving average price of $32.59 and a 200 day moving average price of $34.83.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million during the quarter, compared to analysts' expectations of $125.64 million. During the same quarter last year, the firm earned $0.24 earnings per share. The business's revenue for the quarter was up 17.2% on a year-over-year basis. Equities research analysts anticipate that Vita Coco will post 1.07 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the transaction, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares in the company, valued at $69,355,336.53. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,854,762 shares of company stock valued at $132,152,179 in the last three months. Company insiders own 32.30% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP increased its position in shares of Vita Coco by 17.8% during the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock worth $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock worth $18,902,000 after acquiring an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC grew its position in Vita Coco by 77.3% during the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock worth $31,544,000 after acquiring an additional 372,633 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in Vita Coco during the 4th quarter valued at $10,715,000. Finally, Wellington Management Group LLP increased 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 in the last quarter. Institutional investors own 88.49% of the company's stock.

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.