Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) PT at $35.14

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $35.14.

Several brokerages recently weighed in on COCO. The Goldman Sachs Group boosted their price objective on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Stephens lowered Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price objective for the company. in a report on Monday, January 27th. Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, February 27th.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $1.70 during midday trading on Wednesday, reaching $33.86. 676,283 shares of the company's stock were exchanged, compared to its average volume of 552,230. Vita Coco has a 52-week low of $23.00 and a 52-week high of $40.32. The stock has a market capitalization of $1.93 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The business's fifty day moving average price is $36.30 and its two-hundred day moving average price is $32.96.

Remove Ads

Insider Activity

In other news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Corey Baker sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company's stock, valued at approximately $1,653,218.88. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,632 shares of company stock valued at $3,605,468. 34.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Vita Coco by 1.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company's stock valued at $6,111,000 after acquiring an additional 2,587 shares in the last quarter. Woodson Capital Management LP lifted its position in Vita Coco by 4.5% in the 4th quarter. Woodson Capital Management LP now owns 709,615 shares of the company's stock valued at $26,192,000 after acquiring an additional 30,553 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Vita Coco in the 4th quarter valued at $323,000. Millennium Management LLC lifted its position in Vita Coco by 24.9% in the 4th quarter. Millennium Management LLC now owns 25,515 shares of the company's stock valued at $942,000 after acquiring an additional 5,087 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Vita Coco by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock valued at $824,000 after acquiring an additional 842 shares in the last quarter. Institutional investors and hedge funds 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.