Vita Coco (NASDAQ:COCO) Given “Equal Weight” Rating at Stephens

Stephens reaffirmed their equal weight rating on shares of Vita Coco (NASDAQ:COCO) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $32.00 price target on the stock.

A number of other equities research analysts also recently commented on COCO. Wells Fargo & Company reduced their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.57.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $29.93 on Thursday. Vita Coco has a 1 year low of $23.00 and a 1 year high of $40.32. The company has a market capitalization of $1.71 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.25 and a beta of 0.34. The company has a 50 day simple moving average of $36.21 and a 200-day simple moving average of $33.87.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 700 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.25, for a total transaction of $28,175.00. Following the sale, the chief operating officer now directly owns 104,108 shares in the company, valued at $4,190,347. This represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares of the company’s stock, valued at approximately $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,410 shares of company stock valued at $3,017,811. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after purchasing an additional 347 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in shares of Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Vita Coco by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock worth $824,000 after acquiring an additional 842 shares in the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of Vita Coco by 4.8% during the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after acquiring an additional 871 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.