Vita Coco (NASDAQ:COCO) Price Target Raised to $45.00

Key Points

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Vita Coco (NASDAQ:COCO - Get Free Report) had its price target hoisted by equities researchers at Wells Fargo & Company from $43.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 26.14% from the stock's current price.

COCO has been the subject of several other research reports. Evercore ISI upped their price objective on Vita Coco from $35.00 to $38.00 and gave the company 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 company a "buy" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Vita Coco Stock Down 3.0%

Shares of COCO traded down $1.11 during trading hours on Thursday, reaching $35.68. The company's stock had a trading volume of 324,837 shares, compared to its average volume of 718,196. Vita Coco has a 1-year low of $24.09 and a 1-year high of $40.32. The company has a 50 day moving average of $36.27 and a two-hundred day moving average of $35.00. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 1.97 and a beta of 0.37.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The business's revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. As a group, analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the transaction, the insider owned 94,127 shares of the company's stock, valued at $3,578,708.54. The trade was a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Jane Prior sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total value of $370,700.00. Following the completion of the sale, the chief marketing officer owned 134,188 shares of the company's stock, valued at $4,974,349.16. This trade represents a 6.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,846,562 shares of company stock worth $131,933,805. 32.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

Institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake 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 valued at $104,414,000 after buying an additional 427,871 shares during the period. Vanguard Group Inc. boosted its stake in Vita Coco by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock worth $80,987,000 after purchasing an additional 53,172 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Vita Coco by 6.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after purchasing an additional 64,011 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Vita Coco by 14.4% in the 1st quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company's stock worth $29,954,000 after acquiring an additional 122,674 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Vita Coco by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company's stock worth $33,393,000 after purchasing an additional 51,944 shares during the period. Hedge funds and other 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.

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