Brokerages Set Vita Coco Company, Inc. (NASDAQ:COCO) Target Price at $38.38

Vita Coco Company, Inc. (NASDAQ:COCO) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.3750.

A number of analysts recently commented on COCO shares. Morgan Stanley upped their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price objective on the stock in a research report on Wednesday, August 20th. Wells Fargo & Company upped their target price on Vita Coco from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th.

Insider Transactions at Vita Coco

In other news, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $38.02, for a total transaction of $380,200.00. Following the completion of the transaction, the insider directly owned 94,127 shares in the company, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $34.69, for a total transaction of $135,291.00. Following the transaction, the director owned 635,566 shares of the company’s stock, valued at $22,047,784.54. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,952 shares of company stock worth $1,500,913 over the last quarter. Insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its holdings in Vita Coco by 3,376.9% during the first quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after buying an additional 570,087 shares during the last quarter. Bank of America Corp DE lifted its holdings in Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after buying an additional 372,633 shares in the last quarter. Marshall Wace LLP purchased a new stake in Vita Coco in the 2nd quarter worth $9,627,000. Finally, Wellington Management Group LLP grew its holdings in Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after buying an additional 258,521 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $35.74 on Wednesday. The stock has a market capitalization of $2.03 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.37. The stock has a 50 day moving average price of $35.90 and a two-hundred day moving average price of $34.56. Vita Coco has a 52 week low of $24.09 and a 52 week high of $40.32.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business had revenue of $168.76 million during the quarter, compared to analyst estimates of $162.20 million. During the same period in the prior year, the firm posted $0.32 EPS. Vita Coco’s quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. Research analysts forecast that Vita Coco will post 1.07 EPS for the current year.

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.