The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $32.14 Average PT from Brokerages

The Vita Coco Company, Inc. (NASDAQ:COCO) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $32.14.

A number of research analysts have recently issued reports on COCO shares. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Craig Hallum raised their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Vita Coco Stock Up 0.6 %

Shares of Vita Coco stock opened at $35.86 on Friday. The business has a 50-day moving average price of $33.92 and a 200 day moving average price of $29.52. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The firm has a market cap of $2.03 billion, a P/E ratio of 36.22, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In related news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the sale, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Burth sold 14,836 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $37.61, for a total transaction of $557,981.96. Following the completion of the sale, the chief operating officer now directly owns 105,417 shares of the company’s stock, valued at $3,964,733.37. The trade was a 12.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,173 shares of company stock valued at $5,392,026 in the last ninety days. Company insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC increased its stake in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares during the period. Quest Partners LLC increased its position in shares of 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 purchasing an additional 3,473 shares during the period. ProShare Advisors LLC bought a new stake in shares of Vita Coco in the 2nd quarter worth $141,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares during the period. Finally, LVW Advisors LLC bought a new position in Vita Coco during the third quarter valued at about $209,000. 88.49% of the stock is currently owned by institutional investors.

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.