Vita Coco (NASDAQ:COCO – Get Free Report) had its target price hoisted by analysts at Piper Sandler from $25.00 to $32.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 30.19% from the company’s previous close.
A number of other research analysts also recently weighed in on COCO. The Goldman Sachs Group lifted their price target on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Craig Hallum lifted their price target on Vita Coco from $25.00 to $30.00 in a report on Thursday, May 4th. Stephens assumed coverage on Vita Coco in a report on Thursday, June 22nd. They set an “equal weight” rating and a $30.00 price target on the stock. Finally, Bank of America downgraded Vita Coco from a “buy” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $32.00 in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.63.
Vita Coco Stock Up 0.4 %
Shares of Vita Coco stock opened at $24.58 on Thursday. The stock’s fifty day moving average is $26.52 and its 200-day moving average is $21.45. The firm has a market capitalization of $1.38 billion, a PE ratio of 48.20 and a beta of 0.07. Vita Coco has a 12-month low of $7.39 and a 12-month high of $30.88.
Vita Coco (NASDAQ:COCO – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Vita Coco had a return on equity of 21.71% and a net margin of 6.26%. The business had revenue of $109.76 million for the quarter, compared to the consensus estimate of $104.14 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. Vita Coco’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Vita Coco will post 0.7 EPS for the current year.
Insider Buying and Selling at Vita Coco
In other news, major shareholder Beverages Sa Verlinvest sold 5,750,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $21.91, for a total transaction of $125,982,500.00. Following the completion of the sale, the insider now owns 14,858,120 shares in the company, valued at approximately $325,541,409.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 51.10% of the company’s stock.
Institutional Trading of Vita Coco
Several large investors have recently made changes to their positions in COCO. Legal & General Group Plc boosted its stake in shares of Vita Coco by 154.1% during the 2nd quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after acquiring an additional 1,824 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Vita Coco during the 1st quarter worth about $33,000. JPMorgan Chase & Co. lifted its position in shares of Vita Coco by 25.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after purchasing an additional 1,062 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Vita Coco during the 2nd quarter worth about $56,000. Finally, State of Wyoming acquired a new position in shares of Vita Coco during the 4th quarter worth about $71,000. Institutional investors own 24.68% 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, 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.
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