The Goldman Sachs Group Increases Vita Coco (NASDAQ:COCO) Price Target to $38.00

Vita Coco (NASDAQ:COCO) had its price target upped by investment analysts at The Goldman Sachs Group from $34.00 to $38.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 12.76% from the company’s current price.

COCO has been the topic of several other reports. Wells Fargo & Company lifted their price target on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Craig Hallum lifted 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. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research report on Monday, January 27th. Finally, Bank of America lifted their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $35.29.

Vita Coco Stock Performance

Shares of COCO stock opened at $33.70 on Thursday. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The firm has a market cap of $1.91 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.25 and a beta of 0.30. The business’s 50 day moving average price is $36.75 and its 200-day moving average price is $32.66.

Insiders Place Their Bets

In other news, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $35.54, for a total value of $177,700.00. Following the completion of the transaction, the chief executive officer now owns 392,152 shares in the company, valued at $13,937,082.08. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Liran sold 1,723 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total value of $68,954.46. Following the completion of the transaction, the director now owns 812,579 shares of the company’s stock, valued at $32,519,411.58. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,270 shares of company stock valued at $4,488,069. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Vita Coco in the fourth quarter worth $52,000. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco in the fourth quarter worth $66,000. Finally, Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. Hedge funds and other 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.