The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $34.57 Average PT from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $34.57.

Several analysts have weighed in on COCO shares. Wells Fargo & Company lowered their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Bank of America boosted their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens restated an “equal weight” rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th.

Vita Coco Stock Performance

Shares of COCO opened at $30.03 on Friday. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.25 and a beta of 0.34. The firm has a 50 day moving average price of $35.89 and a 200-day moving average price of $34.04.

Insider Buying and Selling

In other Vita Coco news, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the sale, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 20,235 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the transaction, the director now directly owns 814,302 shares in the company, valued at $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 over the last ninety days. 34.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC raised its stake in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Vita Coco in the 3rd quarter worth approximately $256,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Vita Coco by 21.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock valued at $9,174,000 after purchasing an additional 57,622 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Vita Coco by 7.2% in the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock worth $603,000 after purchasing an additional 1,433 shares during the period. 88.49% of the stock is 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.