Analysts Set The Vita Coco Company, Inc. (NASDAQ:COCO) Price Target at $27.50

The Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.50.

A number of equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Vita Coco from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. The Goldman Sachs Group raised their price objective on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Jefferies Financial Group assumed coverage on Vita Coco in a report on Monday, November 13th. They set a “buy” rating and a $33.00 price objective on the stock. TheStreet raised Vita Coco from a “c” rating to a “b-” rating in a report on Friday, October 20th. Finally, Morgan Stanley assumed coverage on Vita Coco in a research report on Tuesday, September 19th. They set an “equal weight” rating and a $29.00 price target on the stock.

Vita Coco Stock Up 0.1 %

NASDAQ:COCO opened at $29.13 on Thursday. The business’s 50-day moving average price is $27.02 and its two-hundred day moving average price is $26.65. Vita Coco has a twelve month low of $10.16 and a twelve month high of $33.29. The stock has a market cap of $1.65 billion, a P/E ratio of 45.52 and a beta of 0.15.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $139.05 million. Vita Coco had a return on equity of 23.93% and a net margin of 7.73%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. On average, equities research analysts expect that Vita Coco will post 0.79 EPS for the current fiscal year.

Insider Transactions at Vita Coco

In other news, CMO Jane Prior sold 7,000 shares of Vita Coco stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $30.03, for a total value of $210,210.00. Following the sale, the chief marketing officer now directly owns 123,098 shares in the company, valued at approximately $3,696,632.94. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Eric Melloul sold 4,000,000 shares of Vita Coco stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $27.61, for a total transaction of $110,440,000.00. Following the sale, the director now directly owns 10,858,120 shares in the company, valued at $299,792,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jane Prior sold 7,000 shares of Vita Coco stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $30.03, for a total value of $210,210.00. Following the sale, the chief marketing officer now owns 123,098 shares in the company, valued at $3,696,632.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,283,446 shares of company stock worth $118,714,589. 51.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in COCO. FMR LLC boosted its position in shares of Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after purchasing an additional 1,000,408 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Vita Coco by 9,796.7% during the third quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock valued at $20,516,000 after purchasing an additional 779,912 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Vita Coco during the first quarter valued at approximately $5,746,000. William Blair Investment Management LLC boosted its position in shares of Vita Coco by 60.9% during the first quarter. William Blair Investment Management LLC now owns 1,196,237 shares of the company’s stock valued at $23,470,000 after purchasing an additional 452,746 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Vita Coco during the fourth quarter valued at $5,721,000. 42.33% of the stock is currently owned by 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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.