Vita Coco (NASDAQ:COCO) Price Target Raised to $49.00

Vita Coco (NASDAQ:COCO) had its price target increased by Morgan Stanley from $45.00 to $49.00 in a report issued on Monday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Vita Coco from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Needham & Company LLC started coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Evercore ISI raised their price objective on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $54.00 in a report on Monday. Finally, Piper Sandler set a $47.00 price target on Vita Coco and gave the company an “overweight” rating in a report on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Vita Coco Trading Up 1.5%

Shares of Vita Coco stock opened at $47.29 on Monday. Vita Coco has a 12 month low of $25.79 and a 12 month high of $50.50. The firm has a market capitalization of $2.69 billion, a P/E ratio of 41.12, a P/E/G ratio of 1.60 and a beta of 0.39. The business has a fifty day simple moving average of $41.62 and a two-hundred day simple moving average of $37.74.

Vita Coco (NASDAQ:COCO) last released its 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 firm had revenue of $182.31 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. Analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.00, for a total value of $224,488.00. Following the completion of the transaction, the chairman owned 1,479,049 shares in the company, valued at $65,078,156. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Jane Prior sold 10,000 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $45.24, for a total value of $452,400.00. Following the sale, the chief marketing officer directly owned 123,666 shares in the company, valued at $5,594,649.84. This trade represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,742,010 shares of company stock worth $154,001,011. 32.30% of the stock is owned by corporate insiders.

Institutional Trading of Vita Coco

A number of large investors have recently made changes to their positions in COCO. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco during the 3rd quarter valued at $62,815,000. Wellington Management Group LLP grew its holdings in shares of Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after acquiring an additional 1,392,678 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Vita Coco during the third quarter valued at $45,135,000. Millennium Management LLC increased its position in Vita Coco by 164.7% during the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after acquiring an additional 762,731 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after acquiring an additional 737,823 shares during the period. 88.49% of the stock is currently owned by 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.