Vita Coco (NASDAQ:COCO) Given New $40.00 Price Target at Wells Fargo & Company

Vita Coco (NASDAQ:COCO) had its target price increased by equities researchers at Wells Fargo & Company from $33.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 16.62% from the stock’s current price.

Several other brokerages also recently commented on COCO. Bank of America increased their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Craig Hallum increased their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Vita Coco Trading Up 0.3 %

Shares of COCO traded up $0.09 during trading hours on Tuesday, reaching $34.30. The stock had a trading volume of 29,116 shares, compared to its average volume of 518,041. The firm has a 50-day simple moving average of $35.36 and a 200 day simple moving average of $30.04. Vita Coco has a 12 month low of $19.41 and a 12 month high of $37.88. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. On average, equities analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares of the company’s stock, valued at $16,220,404.20. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the transaction, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,929 shares of company stock valued at $5,324,683. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. Bank of New York Mellon Corp increased its stake in shares of Vita Coco by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 151,840 shares of the company’s stock worth $4,229,000 after purchasing an additional 17,121 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Vita Coco by 20.1% during the second quarter. Principal Financial Group Inc. now owns 37,232 shares of the company’s stock worth $1,037,000 after acquiring an additional 6,228 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Vita Coco by 16.1% in the second quarter. Rhumbline Advisers now owns 54,654 shares of the company’s stock worth $1,522,000 after acquiring an additional 7,583 shares during the period. Victory Capital Management Inc. grew its position in shares of Vita Coco by 1,310.1% in the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock valued at $12,086,000 after purchasing an additional 403,192 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Vita Coco by 9.5% during the 2nd quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock valued at $309,000 after purchasing an additional 960 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

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.