Vita Coco (NASDAQ:COCO) Price Target Raised to $47.00

Vita Coco (NASDAQ:COCO) had its target price lifted by The Goldman Sachs Group from $41.00 to $47.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

COCO has been the topic of a number of other reports. Piper Sandler upgraded Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target on the stock in a research report on Wednesday, August 20th. Needham & Company LLC initiated coverage on Vita Coco in a report on Wednesday, September 24th. They set a “hold” rating on the stock. Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Wells Fargo & Company increased their price objective on shares of Vita Coco from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Finally, Morgan Stanley boosted their target price on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.75.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $42.52 on Thursday. The company’s fifty day moving average is $37.07 and its 200-day moving average is $35.23. Vita Coco has a 52 week low of $25.79 and a 52 week high of $43.65. The company has a market capitalization of $2.42 billion, a PE ratio of 39.74, a P/E/G ratio of 2.26 and a beta of 0.40.

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. The firm had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. On average, analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insider Activity at Vita Coco

In other Vita Coco news, CFO Corey Baker sold 1,000 shares of Vita Coco stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the transaction, the chief financial officer owned 38,754 shares of the company’s stock, valued at approximately $1,550,160. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jonathan Burth sold 3,173 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $42.50, for a total transaction of $134,852.50. Following the completion of the transaction, the chief operating officer directly owned 76,127 shares of the company’s stock, valued at approximately $3,235,397.50. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,425,906 shares of company stock valued at $139,546,526. Corporate insiders own 32.30% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of large investors have recently bought and sold shares of COCO. Voya Investment Management LLC raised its holdings in shares of Vita Coco by 3,376.9% in the first quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after purchasing an additional 570,087 shares during the last quarter. Marshall Wace LLP bought a new position in Vita Coco in the second quarter valued at $9,627,000. Wellington Management Group LLP grew its position in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after purchasing an additional 258,521 shares in the last quarter. Victory Capital Management Inc. increased its stake in Vita Coco by 62.2% in the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock valued at $19,776,000 after buying an additional 247,339 shares during the last quarter. Finally, Capricorn Fund Managers Ltd bought a new stake in Vita Coco during the 2nd quarter worth about $5,054,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.