Stephens Reaffirms "Equal Weight" Rating for Vita Coco (NASDAQ:COCO)

Stephens reissued their equal weight rating on shares of Vita Coco (NASDAQ:COCO - Free Report) in a research report report published on Thursday,Benzinga reports. The firm currently has a $32.00 price target on the stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group upped their target price on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.57.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.54 during mid-day trading on Thursday, hitting $30.39. The stock had a trading volume of 201,050 shares, compared to its average volume of 570,189. The business has a 50 day moving average price of $36.12 and a two-hundred day moving average price of $34.00. Vita Coco has a 1 year low of $23.00 and a 1 year high of $40.32. The firm has a market cap of $1.73 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

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Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at $4,190,347. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares of the company's stock, valued at approximately $69,355,336.53. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock worth $3,017,811 over the last ninety days. 34.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew 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 worth $29,000 after buying an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco in the fourth quarter worth $52,000. Venturi Wealth Management LLC bought a new position in shares of Vita Coco during the fourth quarter valued at $66,000. Finally, Quest Partners LLC increased 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 acquiring an additional 3,473 shares in the last quarter. Hedge funds and other 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.