Wells Fargo & Company Raises Vita Coco (NASDAQ:COCO) Price Target to $45.00

Key Points

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Vita Coco (NASDAQ:COCO - Free Report) had its price target boosted by Wells Fargo & Company from $43.00 to $45.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on COCO. Evercore ISI raised their target price on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Vita Coco currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.29.

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.57 during trading on Thursday, hitting $34.20. 61,134 shares of the company's stock traded hands, compared to its average volume of 721,466. Vita Coco has a 1 year low of $24.09 and a 1 year high of $40.32. The stock has a market capitalization of $1.94 billion, a P/E ratio of 31.96, a PEG ratio of 1.84 and a beta of 0.37. The business has a 50-day simple moving average of $36.22 and a 200-day simple moving average of $35.01.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%. The company had revenue of $168.76 million for the quarter, compared to analysts' expectations of $162.20 million. During the same period last year, the firm posted $0.32 earnings per share. Vita Coco's revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at Vita Coco

In other news, Director John Zupo sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $34.77, for a total value of $278,160.00. Following the transaction, the director owned 8,876 shares of the company's stock, valued at $308,618.52. This trade represents a 47.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Jane Prior sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $37.07, for a total value of $370,700.00. Following the completion of the transaction, the chief marketing officer directly owned 134,188 shares in the company, valued at $4,974,349.16. This trade represents a 6.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,846,562 shares of company stock valued at $131,933,805. Company insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its stake in Vita Coco by 9.2% during 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 period. US Bancorp DE raised its stake in Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after purchasing an additional 364 shares during the period. CWM LLC raised its stake in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after purchasing an additional 367 shares during the period. Principal Financial Group Inc. raised its stake in Vita Coco by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock valued at $1,343,000 after purchasing an additional 521 shares during the period. Finally, Credit Agricole S A raised its stake in Vita Coco by 1.5% during the 1st quarter. Credit Agricole S A now owns 36,140 shares of the company's stock valued at $1,108,000 after purchasing an additional 521 shares during the period. 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.