Vita Coco’s (COCO) “Equal Weight” Rating Reiterated at Stephens

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

Other analysts have also issued reports about the company. Bank of America raised their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.57.

Vita Coco Stock Performance

Shares of COCO opened at $29.85 on Thursday. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The company has a market capitalization of $1.70 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The stock has a fifty day moving average of $36.12 and a two-hundred day moving average of $33.94.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares in the company, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira Liran sold 20,235 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the sale, the director now owns 814,302 shares of the company’s stock, valued at $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 over the last three months. 34.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. Wellington Management Group LLP increased its stake in shares of Vita Coco by 173.2% in the fourth quarter. Wellington Management Group LLP now owns 252,941 shares of the company’s stock worth $9,336,000 after buying an additional 160,353 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Vita Coco by 1.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company’s stock worth $6,111,000 after purchasing an additional 2,587 shares during the last quarter. Woodson Capital Management LP raised its stake in shares of Vita Coco by 4.5% in the 4th quarter. Woodson Capital Management LP now owns 709,615 shares of the company’s stock valued at $26,192,000 after purchasing an additional 30,553 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Vita Coco during the fourth quarter worth about $323,000. Finally, Millennium Management LLC raised its stake in Vita Coco by 24.9% during the fourth quarter. Millennium Management LLC now owns 25,515 shares of the company’s stock valued at $942,000 after buying an additional 5,087 shares in the last quarter. Institutional investors and hedge funds 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.