Vita Coco (NASDAQ:COCO) Given New $47.00 Price Target at The Goldman Sachs Group

Vita Coco (NASDAQ:COCO) had its price objective hoisted by The Goldman Sachs Group from $41.00 to $47.00 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price objective for the company in a research report on Wednesday, August 20th. Needham & Company LLC began coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Vita Coco Stock Up 0.7%

COCO stock opened at $42.71 on Thursday. The stock has a market cap of $2.43 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40. The firm’s 50-day simple moving average is $36.98 and its 200 day simple moving average is $35.17. Vita Coco has a fifty-two week low of $25.79 and a fifty-two week high of $43.28.

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

Insider Activity at Vita Coco

In related news, CFO Corey Baker sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $40,000.00. Following the completion of the sale, the chief financial officer directly owned 38,754 shares in the company, valued at approximately $1,550,160. This trade represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 3,173 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $42.50, for a total transaction of $134,852.50. Following the sale, the chief operating officer owned 76,127 shares of the company’s stock, valued at approximately $3,235,397.50. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,425,906 shares of company stock valued at $139,546,526. 32.30% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Vita Coco by 7.5% in the first quarter. US Bancorp DE now owns 5,247 shares of the company’s stock valued at $161,000 after acquiring an additional 364 shares during the last quarter. CWM LLC lifted its stake in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after acquiring an additional 367 shares during the last quarter. Schroder Investment Management Group lifted its stake in Vita Coco by 3.2% in the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after acquiring an additional 376 shares during the last quarter. Cim LLC lifted its stake in Vita Coco by 3.8% in the second quarter. Cim LLC now owns 13,904 shares of the company’s stock valued at $502,000 after acquiring an additional 514 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Vita Coco by 1.2% in the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company’s stock valued at $1,343,000 after acquiring an additional 521 shares during the last quarter. 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.