Vita Coco (NASDAQ:COCO) Price Target Raised to $36.00 at Craig Hallum

by · The Cerbat Gem

Vita Coco (NASDAQ:COCO – Free Report) had its price target lifted by Craig Hallum from $33.00 to $36.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on COCO. Bank of America increased their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group dropped their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Three equities 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 an average rating of “Moderate Buy” and a consensus price target of $31.00.

Get Our Latest Analysis on COCO

Vita Coco Trading Up 8.0 %

NASDAQ:COCO opened at $31.97 on Thursday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.45 and a beta of 0.23. Vita Coco has a twelve month low of $19.41 and a twelve month high of $32.98. The stock has a fifty day simple moving average of $27.98 and a 200-day simple moving average of $27.13.

Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 27.64%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts predict that Vita Coco will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the transaction, the chief operating officer now owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,949 shares of company stock worth $148,585 in the last three months. 34.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of COCO. nVerses Capital LLC grew its holdings in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its position in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Vita Coco by 1,289.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Vita Coco by 32.3% in the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after acquiring an additional 919 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after acquiring an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Vita Coco

(Get Free Report)

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.

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