Vita Coco (NASDAQ:COCO) Price Target Raised to $40.00

Vita Coco (NASDAQ:COCO - Free Report) had its price objective hoisted by Wells Fargo & Company from $33.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on COCO. Craig Hallum raised their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Bank of America raised their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.14.

Vita Coco Stock Performance

COCO stock traded down $0.20 during trading on Tuesday, hitting $34.01. The stock had a trading volume of 438,591 shares, compared to its average volume of 622,098. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. Vita Coco has a 1-year low of $19.41 and a 1-year high of $37.88. The company's 50 day moving average price is $35.36 and its two-hundred day moving average price is $30.04.

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, beating analysts' consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In related news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $36.37, for a total value of $181,850.00. Following the completion of the sale, the chief executive officer now owns 337,152 shares of the company's stock, valued at approximately $12,262,218.24. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 30,000 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares in the company, valued at $30,375,677.82. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,929 shares of company stock valued at $5,324,683 in the last quarter. Company insiders own 34.20% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company's stock valued at $309,000 after purchasing an additional 960 shares during the last quarter. US Bancorp DE raised its holdings in Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company's stock worth $424,000 after buying an additional 1,178 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Vita Coco by 7.2% during the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company's stock valued at $603,000 after purchasing an additional 1,433 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock worth $199,000 after purchasing an additional 1,434 shares during the last quarter. Institutional investors 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.