Vita Coco (NASDAQ:COCO) Price Target Lowered to $31.00 at Jefferies Financial Group

Vita Coco (NASDAQ:COCO) had its price target trimmed by Jefferies Financial Group from $35.00 to $31.00 in a research report released on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on COCO. Bank of America boosted their target price on Vita Coco from $27.00 to $30.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on Vita Coco from $30.00 to $33.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an overweight rating to a neutral rating and decreased their price objective for the company from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Stephens reaffirmed an overweight rating and issued a $31.00 price objective on shares of Vita Coco in a report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $30.00.

Vita Coco Stock Up 1.3 %

Shares of Vita Coco stock opened at $24.30 on Wednesday. The stock has a market cap of $1.38 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.46 and a beta of 0.23. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29. The business’s 50 day moving average is $27.71 and its 200-day moving average is $25.23.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million for the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. On average, sell-side analysts expect that Vita Coco will post 1.01 EPS for the current year.

Insider Buying and Selling at Vita Coco

In other news, CMO Jane Prior sold 2,935 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $30.06, for a total transaction of $88,226.10. Following the sale, the chief marketing officer now directly owns 131,834 shares of the company’s stock, valued at approximately $3,962,930.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CMO Jane Prior sold 2,935 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $30.06, for a total transaction of $88,226.10. Following the sale, the chief marketing officer now directly owns 131,834 shares of the company’s stock, valued at approximately $3,962,930.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jonathan Burth sold 2,845 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $30.07, for a total value of $85,549.15. Following the sale, the chief operating officer now directly owns 134,004 shares in the company, valued at $4,029,500.28. The disclosure for this sale can be found here. Insiders have sold a total of 31,874 shares of company stock valued at $945,365 in the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Several large investors have recently modified their holdings of the stock. Syon Capital LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $113,931,000. abrdn plc bought a new stake in shares of Vita Coco during the 4th quarter worth $22,321,000. Champlain Investment Partners LLC bought a new stake in shares of Vita Coco during the 1st quarter worth $18,210,000. GW&K Investment Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $13,358,000. Finally, Victory Capital Management Inc. lifted its position in shares of Vita Coco by 899.4% during the 4th quarter. Victory Capital Management Inc. now owns 277,823 shares of the company’s stock worth $7,126,000 after buying an additional 250,024 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.