Stephens Reaffirms Equal Weight Rating for Vita Coco (NASDAQ:COCO)

Stephens reiterated their equal weight rating on shares of Vita Coco (NASDAQ:COCO) in a report released on Thursday,Benzinga reports. The firm currently has a $32.00 price target on the stock.

Several other research firms have also commented on COCO. Bank of America lifted their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company cut their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group increased their price target on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.57.

Vita Coco Stock Performance

COCO opened at $29.93 on Thursday. Vita Coco has a one year low of $23.00 and a one year high of $40.32. The stock has a market capitalization of $1.71 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The business’s 50-day simple moving average is $36.21 and its 200-day simple moving average is $33.87.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the sale, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,410 shares of company stock worth $3,017,811 in the last three months. Insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of COCO. Wasatch Advisors LP raised its position in Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after acquiring an additional 1,799,168 shares during the last quarter. Woodson Capital Management LP purchased a new position in shares of Vita Coco during the 3rd quarter worth approximately $19,224,000. Bank of America Corp DE raised its position in shares of Vita Coco by 382.2% during the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock worth $18,902,000 after purchasing an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after buying an additional 372,633 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Vita Coco during the 4th quarter valued at $10,715,000. 88.49% of the stock is owned by institutional investors and hedge funds.

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.