Analysts Set Vita Coco Company, Inc. (NASDAQ:COCO) Price Target at $38.29

Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.2857.

Several research firms have recently weighed in on COCO. Morgan Stanley lifted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Wells Fargo & Company lifted their target price on shares of Vita Coco from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Evercore ISI boosted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $37.65, for a total value of $146,835.00. Following the completion of the sale, the director directly owned 631,666 shares of the company’s stock, valued at $23,782,224.90. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Es Charles Van sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $38.02, for a total transaction of $380,200.00. Following the completion of the sale, the insider directly owned 94,127 shares of the company’s stock, valued at $3,578,708.54. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,846,562 shares of company stock valued at $131,933,805. 34.20% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in shares of Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock worth $104,414,000 after buying an additional 427,871 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock worth $80,987,000 after buying an additional 53,172 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company’s stock worth $41,713,000 after buying an additional 64,011 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Vita Coco by 14.4% in the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock worth $29,954,000 after buying an additional 122,674 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Vita Coco by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company’s stock worth $33,393,000 after buying an additional 51,944 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Trading Down 2.6%

COCO stock opened at $33.85 on Friday. Vita Coco has a 52 week low of $24.09 and a 52 week high of $40.32. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.84 and a beta of 0.37. The firm’s 50-day moving average is $36.22 and its two-hundred day moving average is $35.01.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. During the same period in the previous year, the firm earned $0.32 EPS. Vita Coco’s revenue was up 17.1% on a year-over-year basis. On average, equities research analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

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.