Vita Coco (NASDAQ:COCO) Given New $38.00 Price Target at Bank of America

Vita Coco (NASDAQ:COCO - Free Report) had its target price upped by Bank of America from $30.00 to $38.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Craig Hallum increased their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.14.

Vita Coco Stock Performance

NASDAQ:COCO traded up $0.27 during midday trading on Friday, reaching $36.31. 322,427 shares of the stock traded hands, compared to its average volume of 408,243. The stock has a market capitalization of $2.06 billion, a P/E ratio of 36.68, a PEG ratio of 2.39 and a beta of 0.31. The company has a fifty day moving average of $32.29 and a 200 day moving average of $28.88. Vita Coco has a 12 month low of $19.41 and a 12 month high of $37.20.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analysts' expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, analysts predict that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now owns 452,452 shares of the company's stock, valued at $16,220,404.20. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 27,176 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the sale, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,951 shares of company stock valued at $3,021,869 over the last ninety days. Company insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC boosted its position in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock valued at $72,000 after buying an additional 1,900 shares during the last quarter. CWM LLC boosted its holdings in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock valued at $76,000 after acquiring an additional 787 shares during the last quarter. Comerica Bank grew its stake in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after acquiring an additional 3,675 shares during the period. Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after purchasing an additional 3,473 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Vita Coco during the second quarter valued at approximately $141,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.