Craig Hallum Increases Vita Coco (NASDAQ:COCO) Price Target to $36.00

Vita Coco (NASDAQ:COCO) had its target price raised by investment analysts at Craig Hallum from $33.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 19.92% from the company’s previous close.

A number of other brokerages have also recently issued reports on COCO. Piper Sandler cut shares of Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $28.00 in a report on Friday, July 12th. Bank of America boosted their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their target price on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group dropped their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Stock Performance

Shares of COCO stock traded up $0.46 during mid-day trading on Thursday, hitting $30.02. The company’s stock had a trading volume of 87,952 shares, compared to its average volume of 612,934. The company has a market cap of $1.70 billion, a PE ratio of 32.28, a P/E/G ratio of 2.24 and a beta of 0.23. The company’s fifty day simple moving average is $27.74 and its 200-day simple moving average is $27.03. Vita Coco has a 52 week low of $19.41 and a 52 week high of $31.54.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. During the same quarter last year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Vita Coco will post 1.05 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the sale, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 4,949 shares of company stock valued at $148,585 over the last three months. 34.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC grew its stake in Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC raised its position in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Vita Coco by 1,289.2% during the fourth 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. Ameritas Investment Partners Inc. increased its stake in Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after acquiring an additional 919 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after acquiring an additional 3,675 shares in the last quarter. 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.