The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Rating of “Moderate Buy” from Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.67.

Several research firms have recently weighed in on COCO. Stephens reissued an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Piper Sandler increased their price objective on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th.

Vita Coco Price Performance

COCO stock opened at $27.38 on Friday. Vita Coco has a 1 year low of $19.41 and a 1 year high of $33.29. The firm has a market capitalization of $1.55 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 1.77 and a beta of 0.26. The business has a 50 day simple moving average of $27.04 and a 200-day simple moving average of $25.07.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million during the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. On average, equities research analysts expect that Vita Coco will post 1.04 EPS for the current year.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 6,915 shares of Vita Coco stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the sale, the director now directly owns 985,729 shares of the company’s stock, valued at $24,643,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ira Liran sold 6,915 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the transaction, the director now owns 985,729 shares of the company’s stock, valued at $24,643,225. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Es Charles Van sold 6,700 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $201,268.00. Following the sale, the insider now directly owns 97,668 shares in the company, valued at $2,933,946.72. The disclosure for this sale can be found here. Insiders have sold a total of 41,317 shares of company stock valued at $1,159,580 over the last quarter. 34.20% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

Several hedge funds have recently modified their holdings of the stock. Syon Capital LLC acquired a new stake in Vita Coco in the 4th quarter valued at about $113,931,000. Oak Ridge Investments LLC purchased a new position in Vita Coco in the fourth quarter worth approximately $1,922,000. AMI Asset Management Corp grew its holdings in Vita Coco by 51.4% during the 4th quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock worth $3,126,000 after acquiring an additional 41,374 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Vita Coco by 899.4% in the 4th quarter. Victory Capital Management Inc. now owns 277,823 shares of the company’s stock valued at $7,126,000 after purchasing an additional 250,024 shares during the last quarter. Finally, 12 West Capital Management LP acquired a new stake in shares of Vita Coco in the 3rd quarter valued at $9,114,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.