Vita Coco (NASDAQ:COCO) Price Target Raised to $36.00

Vita Coco (NASDAQ:COCO - Get Free Report) had its price objective upped by research analysts at Craig Hallum from $33.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Craig Hallum's target price suggests a potential upside of 21.58% from the company's previous close.

Several other equities research analysts have also issued reports on the company. Piper Sandler lowered Vita Coco from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Bank of America increased their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Vita Coco from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group lowered their target price on Vita Coco from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Vita Coco has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Vita Coco Price Performance

Shares of COCO traded up $0.05 during midday trading on Thursday, hitting $29.61. 910,424 shares of the company traded hands, compared to its average volume of 616,832. Vita Coco has a one year low of $19.41 and a one year high of $31.54. The firm has a market cap of $1.68 billion, a P/E ratio of 32.28, a PEG ratio of 2.24 and a beta of 0.23. The stock has a 50-day moving average of $27.74 and a 200-day moving average of $27.03.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $133.00 million for the quarter, compared to analysts' expectations of $138.56 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. Sell-side analysts forecast that Vita Coco will post 1.05 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares in the company, valued at approximately $3,739,396.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,949 shares of company stock worth $148,585 in the last 90 days. Company insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COCO. nVerses Capital LLC increased 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 period. CWM LLC increased its stake in shares of Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock worth $76,000 after acquiring an additional 787 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock valued at $89,000 after acquiring an additional 3,210 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock worth $92,000 after acquiring an additional 919 shares in the last quarter. Finally, Comerica Bank grew its holdings in 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 purchasing an additional 3,675 shares during the period. 88.49% of the stock is currently owned by 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.