Vita Coco (NASDAQ:COCO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Vita Coco (NASDAQ:COCO) had its price objective hoisted by Wells Fargo & Company from $33.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.62% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Craig Hallum lifted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.14.

Vita Coco Trading Up 0.3 %

Shares of Vita Coco stock traded up $0.09 on Tuesday, hitting $34.30. 29,116 shares of the company traded hands, compared to its average volume of 518,041. Vita Coco has a 12-month low of $19.41 and a 12-month high of $37.88. The company has a market cap of $1.95 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.42 and a beta of 0.31. The firm’s 50-day simple moving average is $35.36 and its 200 day simple moving average is $30.04.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the transaction, the chief financial officer now owns 44,346 shares in the company, valued at $1,653,218.88. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,929 shares of company stock valued at $5,324,683 over the last ninety days. 34.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently added to or reduced their stakes in COCO. GAMMA Investing LLC grew its position in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Quest Partners LLC boosted its stake in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Vita Coco in the second quarter worth about $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after purchasing an additional 1,434 shares in the last quarter. Finally, LVW Advisors LLC purchased a new position in shares of Vita Coco during the third quarter valued at approximately $209,000. 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.