Vita Coco (NASDAQ:COCO) PT Raised to $19.00 at Wells Fargo & Company

Vita Coco (NASDAQ:COCO – Get Rating) had its price target hoisted by equities research analysts at Wells Fargo & Company from $15.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.36% from the stock’s current price.

COCO has been the topic of several other research reports. Piper Sandler upped their price target on Vita Coco from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. The Goldman Sachs Group upped their price target on Vita Coco from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI upped their price target on Vita Coco from $16.00 to $18.00 in a research note on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.00.

Vita Coco Stock Performance

Vita Coco stock opened at $16.91 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.93 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $945.61 million, a P/E ratio of 120.79, a PEG ratio of 1.24 and a beta of 0.03. The stock’s 50 day moving average is $14.83 and its 200 day moving average is $13.24. Vita Coco has a twelve month low of $7.39 and a twelve month high of $17.93.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran bought 10,000 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were acquired at an average cost of $12.17 per share, for a total transaction of $121,700.00. Following the purchase, the director now owns 685,252 shares in the company, valued at approximately $8,339,516.84. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Jonathan Burth sold 8,000 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $12.71, for a total transaction of $101,680.00. Following the transaction, the chief operating officer now directly owns 186,007 shares of the company’s stock, valued at approximately $2,364,148.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Liran purchased 10,000 shares of the stock in a transaction dated Tuesday, December 13th. The shares were purchased at an average cost of $12.17 per share, for a total transaction of $121,700.00. Following the completion of the acquisition, the director now directly owns 685,252 shares in the company, valued at $8,339,516.84. The disclosure for this purchase can be found here. Company insiders own 51.50% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its holdings in Vita Coco by 128.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,693,436 shares of the company’s stock worth $19,288,000 after purchasing an additional 952,740 shares during the period. William Blair Investment Management LLC bought a new position in Vita Coco in the 4th quarter worth $10,275,000. Armistice Capital LLC bought a new position in Vita Coco in the 4th quarter worth $5,721,000. Brandywine Global Investment Management LLC bought a new position in Vita Coco in the 2nd quarter worth $3,059,000. Finally, Vanguard Group Inc. raised its holdings in Vita Coco by 28.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,321,632 shares of the company’s stock worth $15,053,000 after purchasing an additional 291,757 shares during the period. 24.07% of the stock is owned by institutional investors.

About Vita Coco

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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.