Wells Fargo & Company Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO) had its price objective lifted by Wells Fargo & Company from $33.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

COCO has been the topic of several other research reports. Bank of America increased their price objective on shares of 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 raised their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a 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 data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

Vita Coco Stock Down 0.6 %

Shares of NASDAQ COCO opened at $34.01 on Tuesday. The stock’s 50 day moving average price is $35.36 and its two-hundred day moving average price is $30.04. Vita Coco has a 52-week low of $19.41 and a 52-week high of $37.88. The stock has a market capitalization of $1.93 billion, a P/E ratio of 34.35, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, analysts anticipate that Vita Coco will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In other Vita Coco news, CFO Corey Baker sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was 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 in the company, valued at $30,375,677.82. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,929 shares of company stock valued at $5,324,683. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COCO. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after buying an additional 80,128 shares in the last quarter. TT International Asset Management LTD grew its position in Vita Coco by 1,643.7% in the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after buying an additional 170,797 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after acquiring an additional 101,823 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.