Vita Coco (NASDAQ:COCO) Price Target Increased to $30.00 by Analysts at Bank of America

Vita Coco (NASDAQ:COCO) had its price objective increased by equities research analysts at Bank of America from $27.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential downside of 1.38% from the stock’s current price.

Several other brokerages have also recently issued reports on COCO. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Vita Coco in a research note on Thursday, May 23rd. Wells Fargo & Company raised their price target on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.29.

Vita Coco Trading Up 0.9 %

NASDAQ:COCO opened at $30.42 on Wednesday. Vita Coco has a twelve month low of $19.41 and a twelve month high of $33.29. The company has a market cap of $1.72 billion, a PE ratio of 33.07, a P/E/G ratio of 1.80 and a beta of 0.23. The company’s 50 day moving average is $27.84 and its two-hundred day moving average is $25.19.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $112.00 million for the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, analysts expect that Vita Coco will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Es Charles Van sold 6,700 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $30.04, for a total transaction of $201,268.00. Following the completion of the sale, the insider now owns 97,668 shares of the company’s stock, valued at $2,933,946.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Es Charles Van sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $201,268.00. Following the transaction, the insider now owns 97,668 shares in the company, valued at $2,933,946.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Zupo sold 5,017 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $27.62, for a total value of $138,569.54. Following the sale, the director now owns 8,247 shares of the company’s stock, valued at $227,782.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,502 shares of company stock worth $814,205. Company insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently modified their holdings of the business. Headinvest LLC purchased a new position in shares of Vita Coco during the 3rd quarter worth $29,000. Robeco Institutional Asset Management B.V. acquired a new position in Vita Coco during the fourth quarter worth $60,000. New York State Teachers Retirement System purchased a new position in shares of Vita Coco during the first quarter worth $63,000. CWM LLC grew its stake in shares of Vita Coco by 40.7% in the second 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. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Vita Coco by 1,289.2% in the 4th 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 period. 88.49% of the stock is currently 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.