Morgan Stanley Issues Positive Forecast for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCO) had its price target raised by analysts at Morgan Stanley from $45.00 to $49.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.38% from the stock’s previous close.

COCO has been the subject of a number of other reports. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $54.00 in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Piper Sandler set a $47.00 target price on Vita Coco and gave the stock an “overweight” rating in a report on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research upgraded shares of Vita Coco from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average price target of $49.63.

Vita Coco Price Performance

Vita Coco stock traded up $3.09 during trading hours on Monday, hitting $46.94. The company had a trading volume of 1,531,649 shares, compared to its average volume of 805,003. The firm has a market cap of $2.67 billion, a PE ratio of 40.74, a PEG ratio of 2.74 and a beta of 0.39. Vita Coco has a one year low of $25.79 and a one year high of $50.50. The firm has a 50-day moving average of $41.15 and a 200 day moving average of $37.50.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 22,334 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $45.94, for a total transaction of $1,026,023.96. Following the completion of the sale, the chief operating officer owned 76,127 shares of the company’s stock, valued at $3,497,274.38. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Liran sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $41.40, for a total value of $828,000.00. Following the completion of the transaction, the director directly owned 538,341 shares in the company, valued at approximately $22,287,317.40. This trade represents a 3.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,651,532 shares of company stock worth $149,565,247 over the last quarter. 32.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COCO. Invesco Ltd. increased its stake in Vita Coco by 398.5% in the first quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock valued at $2,999,000 after purchasing an additional 78,229 shares in the last quarter. Northern Trust Corp boosted its holdings in Vita Coco by 3.4% in the first quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock worth $13,026,000 after acquiring an additional 13,814 shares in the last quarter. Wellington Management Group LLP grew its stake in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after acquiring an additional 258,521 shares during the period. Nuveen LLC bought a new stake in shares of Vita Coco during the first quarter valued at approximately $3,041,000. Finally, PDT Partners LLC raised its position in shares of Vita Coco by 133.1% during the first quarter. PDT Partners LLC now owns 64,108 shares of the company’s stock worth $1,965,000 after purchasing an additional 36,610 shares during the period. 88.49% of the stock is owned by 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.