Piper Sandler Trims Vita Coco (NASDAQ:COCO) Target Price to $15.00

Vita Coco (NASDAQ:COCOGet Rating) had its target price reduced by Piper Sandler from $17.00 to $15.00 in a report published on Monday, The Fly reports. Piper Sandler currently has a na rating on the stock.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Vita Coco from a hold rating to a sell rating in a research note on Tuesday, May 10th. Credit Suisse Group lowered their target price on Vita Coco from $16.00 to $14.00 and set an outperform rating on the stock in a research note on Friday, March 11th. Wells Fargo & Company lowered their price target on Vita Coco from $15.00 to $11.00 and set an overweight rating for the company in a research note on Friday, March 11th. The Goldman Sachs Group lowered their price target on Vita Coco from $19.00 to $17.00 and set a buy rating for the company in a research note on Monday, April 4th. Finally, Bank of America cut Vita Coco from a buy rating to a neutral rating and lowered their price target for the company from $15.00 to $10.00 in a research note on Monday, March 14th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $15.14.

Shares of COCO opened at $9.67 on Monday. The business’s 50-day moving average price is $9.64 and its 200 day moving average price is $11.03. Vita Coco has a 1-year low of $7.51 and a 1-year high of $18.61.

Vita Coco (NASDAQ:COCOGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. As a group, equities analysts forecast that Vita Coco will post 0.29 EPS for the current year.

In other Vita Coco news, CEO Martin F. Roper purchased 25,000 shares of the business’s stock in a transaction dated Friday, March 18th. The stock was bought at an average cost of $9.06 per share, for a total transaction of $226,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin F. Roper purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were acquired at an average price of $8.45 per share, with a total value of $422,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 85,000 shares of company stock valued at $727,700.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC raised its stake in shares of Vita Coco by 30.5% in the first quarter. Granahan Investment Management LLC now owns 2,450,435 shares of the company’s stock valued at $21,956,000 after purchasing an additional 573,227 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Vita Coco by 42.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,108,100 shares of the company’s stock valued at $9,929,000 after purchasing an additional 327,900 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Vita Coco in the fourth quarter valued at $8,289,000. BlackRock Inc. raised its stake in shares of Vita Coco by 9.4% in the first quarter. BlackRock Inc. now owns 729,130 shares of the company’s stock valued at $6,532,000 after purchasing an additional 62,355 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Vita Coco in the first quarter valued at $5,746,000. Institutional investors and hedge funds own 16.12% of the company’s stock.

About Vita Coco (Get Rating)

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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