Vita Coco (NASDAQ:COCO) Price Target Raised to $38.00

Vita Coco (NASDAQ:COCO) had its target price upped by Bank of America from $30.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Craig Hallum boosted their price target 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. Three equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

Vita Coco Stock Performance

COCO stock opened at $36.31 on Friday. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $37.20. The company’s 50 day moving average price is $32.29 and its 200 day moving average price is $28.90. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.39 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Vita Coco’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares in the company, valued at approximately $3,703,932. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now directly owns 883,729 shares in the company, valued at approximately $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,951 shares of company stock worth $3,021,869 in the last three months. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC increased 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 in the last quarter. CWM LLC lifted its stake in Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares in the last quarter. Comerica Bank lifted its stake in Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares in the last quarter. Quest Partners LLC grew its holdings in Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in Vita Coco during the second quarter worth $141,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.