Vita Coco’s (COCO) “Equal Weight” Rating Reaffirmed at Stephens

Vita Coco (NASDAQ:COCO)‘s stock had its “equal weight” rating reaffirmed by analysts at Stephens in a report released on Thursday,Benzinga reports. They presently have a $32.00 target price on the stock. Stephens’ price target would suggest a potential upside of 1.43% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group boosted their target price on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.57.

Vita Coco Stock Performance

COCO opened at $31.55 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 50-day moving average of $36.31 and a 200 day moving average of $33.89. The firm has a market cap of $1.80 billion, a P/E ratio of 31.87, a PEG ratio of 2.25 and a beta of 0.34.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the sale, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,410 shares of company stock valued at $3,017,811. Corporate insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Vita Coco in the 4th quarter worth approximately $52,000. Venturi Wealth Management LLC bought a new position in shares of Vita Coco in the 4th quarter worth $66,000. Finally, Quest Partners LLC raised its position in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.