Wells Fargo & Company Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO) had its price objective increased by equities research analysts at Wells Fargo & Company from $47.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 21.42% from the stock’s previous close.

Several other analysts have also commented on the stock. Zacks Research lowered shares of Vita Coco from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. The Goldman Sachs Group increased their target price on shares of Vita Coco from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley raised their target price on Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Bank of America upped their price target on Vita Coco from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, Needham & Company LLC started coverage on Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vita Coco has a consensus rating of “Hold” and a consensus target price of $45.29.

Vita Coco Trading Down 3.4%

Shares of COCO stock opened at $41.18 on Thursday. The stock has a 50 day moving average of $39.91 and a 200 day moving average of $36.67. The stock has a market cap of $2.35 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.75 and a beta of 0.40. Vita Coco has a twelve month low of $25.79 and a twelve month high of $48.67.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. On average, research analysts predict that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, CEO Martin Roper sold 5,000 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $46.09, for a total value of $230,450.00. Following the completion of the sale, the chief executive officer owned 282,062 shares in the company, valued at approximately $13,000,237.58. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 14,898 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $44.21, for a total value of $658,640.58. Following the transaction, the chairman owned 1,484,151 shares in the company, valued at approximately $65,614,315.71. This represents a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,601,532 shares of company stock worth $147,494,947 in the last 90 days. 32.30% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. MAI Capital Management purchased a new position in shares of Vita Coco during the 2nd quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in Vita Coco by 5,376.0% during the second 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 purchased a new position in Vita Coco during the second quarter worth about $50,000. Mather Group LLC. acquired a new position in Vita Coco in the 3rd quarter valued at about $54,000. Finally, CWM LLC boosted its holdings in Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after purchasing an additional 367 shares during the last quarter. 88.49% of the stock is currently 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.