Vita Coco (NASDAQ:COCO) Price Target Raised to $36.00 at Craig Hallum

Vita Coco (NASDAQ:COCO) had its target price raised by Craig Hallum from $33.00 to $36.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 19.92% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $28.00 in a report on Friday, July 12th. Wells Fargo & Company increased their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Bank of America boosted their target price on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.46 on Thursday, hitting $30.02. The stock had a trading volume of 87,952 shares, compared to its average volume of 612,934. The firm’s 50 day moving average price is $27.74 and its 200-day moving average price is $27.03. Vita Coco has a twelve month low of $19.41 and a twelve month high of $31.54. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. 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 11.05% and a return on equity of 26.42%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. As a group, sell-side analysts predict that Vita Coco will post 1.05 EPS for the current year.

Insider Transactions at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the transaction, the chief operating officer now owns 123,300 shares in the company, valued at approximately $3,703,932. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,949 shares of company stock worth $148,585 in the last quarter. 34.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after purchasing an additional 919 shares during the last quarter. Arizona State Retirement System grew its position in Vita Coco by 9.5% in the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock valued at $309,000 after acquiring an additional 960 shares during the last quarter. US Bancorp DE increased its position in Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after purchasing an additional 1,178 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds 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.