The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $34.57 Average Price Target from Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $34.57.

A number of equities research analysts have recently weighed in on COCO shares. The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Stephens reiterated an “equal weight” rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Finally, Wells Fargo & Company cut their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th.

Vita Coco Price Performance

Shares of COCO stock opened at $27.94 on Friday. The stock’s fifty day moving average price is $35.34 and its 200 day moving average price is $34.02. Vita Coco has a 1-year low of $23.00 and a 1-year high of $40.32. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. This represents a 9.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,410 shares of company stock valued at $3,017,811. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the period. Pier Capital LLC raised its holdings in Vita Coco by 39.6% in the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock worth $7,405,000 after purchasing an additional 56,879 shares during the period. Lord Abbett & CO. LLC boosted its position in Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after purchasing an additional 80,128 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Vita Coco in the fourth quarter valued at approximately $7,985,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of Vita Coco in the fourth quarter valued at approximately $790,000. 88.49% of the stock is owned by hedge funds and other 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.