The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) – Investment analysts at William Blair lowered their Q2 2022 EPS estimates for shares of Vita Coco in a research note issued on Thursday, May 12th. William Blair analyst J. Andersen now expects that the company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.09. William Blair also issued estimates for Vita Coco’s Q3 2022 earnings at $0.17 EPS and FY2023 earnings at $0.45 EPS.
COCO has been the subject of several other reports. The Goldman Sachs Group dropped their price objective 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. Wells Fargo & Company dropped their price objective 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. Zacks Investment Research lowered Vita Coco from a “hold” rating to a “sell” rating in a research note on Tuesday. Credit Suisse Group dropped their price objective on Vita Coco from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. Finally, Bank of America lowered Vita Coco from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $10.00 in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $15.43.
In other news, Director Kenneth Sadowsky purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average price of $7.87 per share, for a total transaction of $78,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin F. Roper purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was purchased at an average price of $9.06 per share, for a total transaction of $226,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 85,000 shares of company stock worth $727,700. 7.16% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of COCO. Strs Ohio bought a new position in Vita Coco during the fourth quarter worth about $29,000. New York State Common Retirement Fund bought a new position in Vita Coco during the first quarter worth about $41,000. Lazard Asset Management LLC acquired a new stake in shares of Vita Coco during the fourth quarter worth about $44,000. Citigroup Inc. acquired a new stake in shares of Vita Coco during the fourth quarter worth about $45,000. Finally, JPMorgan Chase & Co. raised its position in shares of Vita Coco by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after purchasing an additional 1,062 shares during the period. Hedge funds and other institutional investors own 16.12% of the company’s stock.
Vita Coco Company Profile (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.
- Get a free copy of the StockNews.com research report on Vita Coco (COCO)
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