Vita Coco (NASDAQ:COCO) Receives “Equal Weight” Rating from Stephens

Vita Coco (NASDAQ:COCO)‘s stock had its “equal weight” rating restated by Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $32.00 price objective on the stock. Stephens’ price target suggests a potential upside of 1.43% from the company’s previous close.

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

Vita Coco Stock Performance

COCO stock opened at $31.55 on Thursday. The company has a market capitalization of $1.80 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. Vita Coco has a one year low of $23.00 and a one year high of $40.32. The company’s 50 day moving average price is $36.31 and its two-hundred day moving average price is $33.89.

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 4,052 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the completion of the transaction, the chief operating officer now owns 104,108 shares in the company, valued at $3,914,460.80. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. The trade was a 0.99 % decrease in their ownership of the stock. 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 over the last quarter. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of hedge funds have recently modified their holdings of the business. Quest Partners LLC lifted its position in Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares during the period. Intech Investment Management LLC bought a new stake in Vita Coco in the third quarter worth $256,000. Charles Schwab Investment Management Inc. grew its position in Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock valued at $9,174,000 after purchasing an additional 57,622 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Woodson Capital Management LP purchased a new position in Vita Coco in the third quarter worth about $19,224,000. Institutional investors 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.