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

Vita Coco (NASDAQ:COCO) had its target price increased by Wells Fargo & Company from $33.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.72% from the company’s previous close.

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

Vita Coco Trading Down 0.1 %

Shares of COCO opened at $33.98 on Tuesday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.42 and a beta of 0.31. Vita Coco has a 12 month low of $19.41 and a 12 month high of $37.88. The firm has a fifty day simple moving average of $35.42 and a 200 day simple moving average of $30.08.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. As a group, research analysts predict that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the sale, the director now owns 883,729 shares of the company’s stock, valued at approximately $31,849,593.16. The trade was a 2.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jonathan Burth sold 14,836 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.61, for a total transaction of $557,981.96. Following the completion of the transaction, the chief operating officer now owns 105,417 shares in the company, valued at approximately $3,964,733.37. This trade represents a 12.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,929 shares of company stock valued at $5,324,683 over the last ninety days. 34.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after buying an additional 80,128 shares in the last quarter. TT International Asset Management LTD increased its holdings in Vita Coco by 1,643.7% in the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after buying an additional 170,797 shares during the period. Geode Capital Management LLC raised its position in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after buying an additional 101,823 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the period. 88.49% of the stock is owned by institutional investors.

About Vita Coco

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.