Vita Coco (NASDAQ:COCO) Price Target Raised to $55.00

Vita Coco (NASDAQ:COCO) had its price objective boosted by Evercore ISI from $50.00 to $55.00 in a research note published on Monday, Marketbeat reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on COCO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Vita Coco from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Jefferies Financial Group upped their price objective on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Morgan Stanley boosted their target price on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $47.29 on Monday. Vita Coco has a one year low of $25.79 and a one year high of $50.50. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.60 and a beta of 0.39. The firm has a 50 day simple moving average of $41.62 and a 200 day simple moving average of $37.74.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, analysts expect that Vita Coco will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other Vita Coco news, CMO Jane Prior sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $45.24, for a total transaction of $452,400.00. Following the completion of the sale, the chief marketing officer owned 123,666 shares of the company’s stock, valued at approximately $5,594,649.84. This represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $44.00, for a total transaction of $224,488.00. Following the completion of the transaction, the chairman owned 1,479,049 shares in the company, valued at $65,078,156. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,742,010 shares of company stock valued at $154,001,011 over the last three months. Insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Vita Coco by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock worth $123,676,000 after acquiring an additional 97,233 shares during the period. Wasatch Advisors LP boosted its position in shares of Vita Coco by 3.3% during the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock valued at $115,917,000 after purchasing an additional 86,541 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Vita Coco by 12.1% during the third quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after purchasing an additional 224,305 shares during the period. Wellington Management Group LLP increased its holdings in Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Vita Coco in the third quarter worth approximately $62,815,000. 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.