The Goldman Sachs Group Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO) had its price objective hoisted by The Goldman Sachs Group from $52.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 24.61% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company increased their target price on Vita Coco from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research note on Wednesday, October 8th. Needham & Company LLC started coverage on shares of Vita Coco in a report on Wednesday, September 24th. They set a “hold” rating for the company. Evercore ISI boosted their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Piper Sandler set a $47.00 target price on shares of Vita Coco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Vita Coco Trading Up 2.5%

NASDAQ COCO traded up $1.12 on Tuesday, reaching $46.55. 393,263 shares of the stock were exchanged, compared to its average volume of 808,395. Vita Coco has a one year low of $25.79 and a one year high of $50.50. The firm has a market capitalization of $2.65 billion, a PE ratio of 40.25, a PEG ratio of 2.74 and a beta of 0.39. The company’s 50-day simple moving average is $41.29 and its two-hundred day simple moving average is $37.59.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $182.31 million during the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman owned 1,599,049 shares of the company’s stock, valued at approximately $62,618,758.84. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ira Liran sold 50,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total value of $2,100,000.00. Following the completion of the sale, the director owned 692,579 shares in the company, valued at approximately $29,088,318. The trade was a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,666,634 shares of company stock worth $150,226,935. 34.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Vita Coco by 6.2% during the 1st quarter. Bank of New York Mellon Corp now owns 133,572 shares of the company’s stock worth $4,094,000 after acquiring an additional 7,788 shares in the last quarter. CWM LLC grew its holdings in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Vita Coco by 62.2% during the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock worth $19,776,000 after purchasing an additional 247,339 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Vita Coco by 16.2% during the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company’s stock valued at $23,191,000 after purchasing an additional 105,401 shares during the last quarter. Finally, US Bancorp DE grew its stake in Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company’s stock worth $161,000 after buying an additional 364 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other 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.