Vita Coco (NASDAQ:COCO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Vita Coco (NASDAQ:COCO) had its target price raised by Evercore ISI from $35.00 to $38.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group raised their price target on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, Wells Fargo & Company dropped their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $34.21 on Thursday. Vita Coco has a 1 year low of $23.56 and a 1 year high of $40.32. The company has a 50-day moving average of $32.11 and a 200 day moving average of $34.35. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that Vita Coco will post 1.07 EPS for the current year.

Insider Activity

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at approximately $69,355,336.53. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now directly owns 814,302 shares of the company’s stock, valued at $32,629,081.14. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,358 shares of company stock valued at $2,865,456 in the last 90 days. 34.20% of the stock is currently owned by insiders.

Institutional Trading of Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. 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 during the last quarter. Pier Capital LLC lifted its position in Vita Coco by 39.6% during the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock valued at $7,405,000 after purchasing an additional 56,879 shares in the last quarter. Lord Abbett & CO. LLC grew 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 valued at $13,034,000 after purchasing an additional 80,128 shares during the period. Raymond James Financial Inc. purchased a new stake in Vita Coco in the fourth quarter worth about $7,985,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Vita Coco in the fourth quarter worth about $399,000. 88.49% of the stock is currently owned by institutional investors.

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.