Wells Fargo & Company Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO - Get Free Report) had its price objective increased by analysts at Wells Fargo & Company from $39.00 to $43.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 20.82% from the company's current price.

A number of other equities research analysts have also weighed in on the company. Evercore ISI boosted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.88.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.02 during trading on Friday, hitting $35.59. The company's stock had a trading volume of 394,456 shares, compared to its average volume of 623,960. Vita Coco has a 12 month low of $23.56 and a 12 month high of $40.32. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 2.25 and a beta of 0.38. The company has a 50-day moving average of $32.52 and a 200-day moving average of $34.82.

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

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the transaction, the chief operating officer now directly owns 94,108 shares in the company, valued at approximately $3,076,390.52. This trade represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael Kirban sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total value of $741,400.00. Following the sale, the chairman now directly owns 1,643,049 shares of the company's stock, valued at approximately $60,907,826.43. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,864,762 shares of company stock worth $132,479,079. 32.30% of the stock is currently owned by insiders.

Institutional Trading of Vita Coco

Institutional investors have recently bought and sold shares of the company. Coppell Advisory Solutions LLC increased its stake in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after acquiring an additional 613 shares during the period. Venturi Wealth Management LLC acquired a new position in Vita Coco during the fourth quarter valued at approximately $66,000. CWM LLC lifted its position in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after buying an additional 367 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Vita Coco during the first quarter worth approximately $111,000. Finally, Summit Investment Advisors Inc. increased its stake in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds 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.