Vita Coco (NASDAQ:COCO) Price Target Raised to $40.00 at Wells Fargo & Company

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

A number of other brokerages also recently commented on COCO. Craig Hallum raised their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.14.

Vita Coco Stock Down 0.6 %

COCO opened at $34.01 on Tuesday. Vita Coco has a 52 week low of $19.41 and a 52 week high of $37.88. The business has a 50 day moving average price of $35.36 and a two-hundred day moving average price of $30.04. The company has a market cap of $1.93 billion, a PE ratio of 34.35, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. As a group, sell-side analysts expect that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira Liran sold 30,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was 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 directly owns 337,152 shares of the company’s stock, valued at $12,262,218.24. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,929 shares of company stock valued at $5,324,683. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in 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 buying an additional 360 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. ProShare Advisors LLC purchased a new position in Vita Coco in the second quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after purchasing an additional 1,434 shares in the last quarter. Finally, LVW Advisors LLC purchased a new stake in Vita Coco during the 3rd quarter worth approximately $209,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.