Wells Fargo & Company Has Lowered Expectations for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCO) had its price target dropped by equities researchers at Wells Fargo & Company from $40.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.11% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on COCO. Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a report on Monday, January 27th. Finally, The Goldman Sachs Group upped their target price on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Price Performance

COCO stock traded down $1.23 during mid-day trading on Thursday, reaching $32.47. The company had a trading volume of 208,321 shares, compared to its average volume of 557,894. The company has a market capitalization of $1.84 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.25 and a beta of 0.30. The firm has a 50 day moving average of $36.75 and a 200 day moving average of $32.66. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32.

Insider Activity at Vita Coco

In related news, CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,653,218.88. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $35.81, for a total value of $179,050.00. Following the sale, the chief executive officer now owns 397,152 shares in the company, valued at $14,222,013.12. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,270 shares of company stock worth $4,488,069. 34.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised 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 purchasing an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco during the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco in the 4th quarter valued at $66,000. Finally, Quest Partners LLC lifted its holdings in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.