Vita Coco (NASDAQ:COCO) Raised to Overweight at Piper Sandler

Piper Sandler upgraded shares of Vita Coco (NASDAQ:COCO) from a neutral rating to an overweight rating in a research note published on Wednesday morning, MarketBeat reports. The firm currently has $39.00 target price on the stock.

A number of other research firms have also recently issued reports on COCO. Wells Fargo & Company raised their target price on shares of Vita Coco from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a “buy” rating in a report on Wednesday, April 30th. Morgan Stanley increased their target price on Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Evercore ISI lifted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.38.

Vita Coco Trading Up 5.8%

Shares of NASDAQ COCO opened at $35.92 on Wednesday. The company has a market capitalization of $2.04 billion, a P/E ratio of 33.57, a P/E/G ratio of 1.80 and a beta of 0.37. Vita Coco has a 12 month low of $24.09 and a 12 month high of $40.32. The stock has a 50 day moving average of $35.81 and a 200-day moving average of $34.69.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. Analysts predict that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Activity

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $37.65, for a total value of $146,835.00. Following the completion of the transaction, the director directly owned 631,666 shares of the company’s stock, valued at $23,782,224.90. The trade was a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Es Charles Van sold 10,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider directly owned 94,127 shares in the company, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,800 shares of company stock worth $1,384,226. Corporate insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently bought and sold shares of COCO. MAI Capital Management bought a new position in Vita Coco in the 2nd quarter valued at about $33,000. Coppell Advisory Solutions LLC boosted its position in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after acquiring an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Vita Coco during the second quarter valued at approximately $50,000. Finally, CWM LLC lifted its stake in Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after purchasing an additional 367 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.