Wells Fargo & Company Issues Positive Forecast for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCO) had its price target hoisted by Wells Fargo & Company from $45.00 to $47.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Needham & Company LLC assumed coverage on shares of Vita Coco in a research note on Wednesday. They issued a “hold” rating for the company. Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target for the company in a research note on Wednesday, August 20th. Finally, Morgan Stanley boosted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Vita Coco Stock Performance

NASDAQ COCO opened at $39.01 on Thursday. The company has a market capitalization of $2.22 billion, a P/E ratio of 36.46, a P/E/G ratio of 2.13 and a beta of 0.36. The company has a fifty day moving average of $36.63 and a 200-day moving average of $34.93. Vita Coco has a 52-week low of $25.79 and a 52-week high of $42.81.

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

Insider Activity

In other news, COO Jonathan Burth sold 16,827 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $42.55, for a total transaction of $715,988.85. Following the completion of the transaction, the chief operating officer directly owned 76,127 shares of the company’s stock, valued at approximately $3,239,203.85. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman directly owned 1,599,049 shares of the company’s stock, valued at approximately $62,618,758.84. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,391,133 shares of company stock valued at $138,083,006. 32.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Vita Coco by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock valued at $80,987,000 after buying an additional 53,172 shares during the period. Geode Capital Management LLC increased its position in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock valued at $36,759,000 after buying an additional 28,448 shares during the period. Driehaus Capital Management LLC increased its position in shares of Vita Coco by 14.4% during the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock valued at $29,954,000 after buying an additional 122,674 shares during the period. GW&K Investment Management LLC increased its position in shares of Vita Coco by 16.2% during the first quarter. GW&K Investment Management LLC now owns 756,646 shares of the company’s stock valued at $23,191,000 after buying an additional 105,401 shares during the period. Finally, Aberdeen Group plc increased its position in shares of Vita Coco by 14.6% during the first quarter. Aberdeen Group plc now owns 725,922 shares of the company’s stock valued at $22,250,000 after buying an additional 92,590 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.