Vita Coco (NASDAQ:COCO) Given New $36.00 Price Target at Craig Hallum

Vita Coco (NASDAQ:COCO) had its target price increased by Craig Hallum from $33.00 to $36.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on COCO. Jefferies Financial Group decreased their target price on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Bank of America lifted their price target on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Vita Coco Trading Up 8.0 %

NASDAQ:COCO opened at $31.97 on Thursday. The firm has a fifty day simple moving average of $27.98 and a 200 day simple moving average of $27.15. Vita Coco has a 1-year low of $19.41 and a 1-year high of $32.98. The stock has a market capitalization of $1.81 billion, a PE ratio of 32.29, a P/E/G ratio of 2.46 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last released 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 firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. During the same period in the previous year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Vita Coco will post 1 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now owns 124,605 shares in the company, valued at approximately $3,739,396.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 4,949 shares of company stock worth $148,585 in the last 90 days. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after purchasing an additional 919 shares during the period. Arizona State Retirement System lifted its position in shares of Vita Coco by 9.5% during the 2nd quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock valued at $309,000 after buying an additional 960 shares during the last quarter. US Bancorp DE boosted its position in Vita Coco by 8.5% during the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after purchasing an additional 1,178 shares during the period. Finally, nVerses Capital LLC raised its holdings in Vita Coco by 271.4% during the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares during the period. 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.