Wells Fargo & Company Raises Vita Coco (NASDAQ:COCO) Price Target to $33.00

Vita Coco (NASDAQ:COCO) had its price objective raised by investment analysts at Wells Fargo & Company from $30.00 to $33.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 12.78% from the company’s previous close.

Separately, Stephens reaffirmed an “overweight” rating and set a $31.00 target price on shares of Vita Coco in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

Vita Coco Stock Up 3.6 %

Vita Coco stock traded up $1.01 during midday trading on Wednesday, hitting $29.26. The company’s stock had a trading volume of 143,197 shares, compared to its average volume of 669,063. Vita Coco has a 12 month low of $19.41 and a 12 month high of $33.29. The company has a market capitalization of $1.66 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.23. The stock’s 50-day moving average price is $27.68 and its 200-day moving average price is $25.12.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $112.00 million during the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 earnings per share. As a group, equities analysts anticipate that Vita Coco will post 1.04 EPS for the current year.

Insider Buying and Selling at Vita Coco

In other news, Director John Zupo sold 5,017 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total value of $138,569.54. Following the transaction, the director now directly owns 8,247 shares of the company’s stock, valued at $227,782.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Zupo sold 5,017 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total transaction of $138,569.54. Following the transaction, the director now owns 8,247 shares of the company’s stock, valued at $227,782.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jonathan Burth sold 2,845 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $30.07, for a total transaction of $85,549.15. Following the completion of the sale, the chief operating officer now directly owns 134,004 shares of the company’s stock, valued at $4,029,500.28. The disclosure for this sale can be found here. Insiders sold 27,502 shares of company stock valued at $814,205 in the last quarter. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Syon Capital LLC acquired a new stake in Vita Coco in the 4th quarter worth $113,931,000. Oak Ridge Investments LLC acquired a new stake in Vita Coco during the fourth quarter worth about $1,922,000. AMI Asset Management Corp increased its stake in Vita Coco by 51.4% during the fourth quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock valued at $3,126,000 after acquiring an additional 41,374 shares during the period. Victory Capital Management Inc. raised its holdings in Vita Coco by 899.4% in the 4th quarter. Victory Capital Management Inc. now owns 277,823 shares of the company’s stock valued at $7,126,000 after acquiring an additional 250,024 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Vita Coco in the 4th quarter worth approximately $995,000. Institutional investors 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.