The Goldman Sachs Group Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO) had its price target boosted by The Goldman Sachs Group from $41.00 to $47.00 in a report issued on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on COCO. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Needham & Company LLC assumed coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Morgan Stanley boosted their target price on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of Vita Coco from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $39.75.

Vita Coco Stock Up 0.7%

NASDAQ:COCO opened at $42.71 on Thursday. Vita Coco has a 12 month low of $25.79 and a 12 month high of $43.28. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 2.25 and a beta of 0.40. The company’s 50 day moving average is $36.98 and its 200-day moving average is $35.17.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. Research analysts predict that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In related news, insider Es Charles Van sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $42.04, for a total transaction of $840,800.00. Following the transaction, the insider owned 84,328 shares in the company, valued at $3,545,149.12. This represents a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman owned 1,599,049 shares in the company, valued at approximately $62,618,758.84. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,425,906 shares of company stock worth $139,546,526 over the last quarter. Corporate insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management acquired a new position in Vita Coco during the 2nd quarter worth about $33,000. EverSource Wealth Advisors LLC raised its holdings in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Vita Coco during the 2nd quarter worth about $50,000. CWM LLC raised its holdings in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Finally, Amitell Capital Pte Ltd bought a new stake in Vita Coco during the 2nd quarter worth about $114,000. Institutional investors and hedge funds 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.