Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) Target Price at $34.83

The Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $34.83.

Several equities research analysts recently issued reports on COCO shares. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, January 27th. Craig Hallum increased their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th.

Vita Coco Stock Down 0.8 %

Shares of COCO stock opened at $39.97 on Friday. The business has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $31.83. The company has a market cap of $2.27 billion, a P/E ratio of 40.37, a P/E/G ratio of 2.24 and a beta of 0.30. Vita Coco has a twelve month low of $20.64 and a twelve month high of $40.32.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $35.69, for a total transaction of $356,900.00. Following the completion of the sale, the chief operating officer now directly owns 106,849 shares in the company, valued at approximately $3,813,440.81. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,500 shares of company stock worth $4,077,868 over the last three months. Company insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP grew its stake in Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock worth $104,414,000 after purchasing an additional 427,871 shares during the period. Vanguard Group Inc. grew its position in shares of Vita Coco by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock worth $95,565,000 after buying an additional 11,712 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Vita Coco by 14.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company’s stock valued at $55,460,000 after acquiring an additional 185,692 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Vita Coco by 15.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company’s stock valued at $52,486,000 after acquiring an additional 193,420 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Vita Coco by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after acquiring an additional 101,823 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.