Vita Coco (NASDAQ:COCO) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target for Vita Coco from $40.00 to $45.00, indicating a potential upside of 8.66% from the previous close, although the stock currently holds a "neutral" rating.
• Other firms, including Goldman Sachs and Morgan Stanley, have also increased their price targets, with six analysts rating the stock a Buy and four a Hold.
• Despite a 3.2% decline in shares to $41.41, Vita Coco reported earnings that surpassed expectations, showing a revenue increase of 17.1% year-over-year.

Vita Coco (NASDAQ:COCO - Get Free Report) had its price objective boosted by research analysts at Bank of America from $40.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price objective would indicate a potential upside of 8.66% from the company's previous close.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group lifted their price target on Vita Coco from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Morgan Stanley lifted their price target on Vita Coco from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, September 25th. Needham & Company LLC started coverage on Vita Coco in a research report on Wednesday, September 24th. They set a "hold" rating on the stock. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Vita Coco in a report on Wednesday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.63.

Vita Coco Stock Down 3.2%

Shares of NASDAQ COCO traded down $1.36 during trading hours on Wednesday, reaching $41.41. 418,460 shares of the stock traded hands, compared to its average volume of 788,318. The company has a market capitalization of $2.35 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40. Vita Coco has a 52-week low of $25.79 and a 52-week high of $43.65. The company's 50-day simple moving average is $37.30 and its two-hundred day simple moving average is $35.33.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, beating 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 return on equity of 24.99% and a net margin of 11.50%.Vita Coco's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 3,173 shares of the company's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $42.50, for a total transaction of $134,852.50. Following the completion of the sale, the chief operating officer owned 76,127 shares in the company, valued at approximately $3,235,397.50. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin Roper sold 5,000 shares of the company's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $42.67, for a total value of $213,350.00. Following the sale, the chief executive officer owned 288,897 shares of the company's stock, valued at approximately $12,327,234.99. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,455,906 shares of company stock valued at $140,876,626. 34.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Vita Coco by 2.1% in the first 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. Geode Capital Management LLC lifted its stake in shares of Vita Coco by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company's stock valued at $36,759,000 after purchasing an additional 28,448 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Vita Coco by 14.4% in the 1st quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company's stock valued at $29,954,000 after purchasing an additional 122,674 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Vita Coco by 16.2% in the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company's stock valued at $23,191,000 after purchasing an additional 105,401 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Vita Coco by 14.6% in the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company's stock valued at $22,250,000 after purchasing an additional 92,590 shares during the last quarter. 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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