Brokerages Expect The Vita Coco Company, Inc. (NASDAQ:COCO) to Announce $0.07 Earnings Per Share

Analysts expect The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) to post $0.07 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Vita Coco’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.08. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Vita Coco will report full year earnings of $0.29 per share for the current year, with EPS estimates ranging from $0.19 to $0.40. For the next financial year, analysts anticipate that the business will report earnings of $0.50 per share, with EPS estimates ranging from $0.45 to $0.58. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Vita Coco.

Vita Coco (NASDAQ:COCO – Get Rating) last released its earnings results on Wednesday, May 11th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02.

COCO has been the topic of several recent analyst reports. Bank of America downgraded shares of Vita Coco from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $10.00 in a research note on Monday, March 14th. Piper Sandler decreased their price objective on shares of Vita Coco from $17.00 to $15.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Credit Suisse Group lowered their price objective on shares of Vita Coco from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. Wells Fargo & Company reduced their price target on Vita Coco from $15.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. Finally, 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 report on Monday, April 4th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.14.

COCO stock traded down $0.55 during midday trading on Tuesday, hitting $12.25. The company had a trading volume of 281,905 shares, compared to its average volume of 351,224. Vita Coco has a 52 week low of $7.51 and a 52 week high of $18.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.83 and a current ratio of 2.94. The stock’s 50 day moving average price is $10.51 and its 200 day moving average price is $10.74.

In other Vita Coco news, CEO Martin F. Roper purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was bought at an average cost of $8.45 per share, with a total value of $422,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth Sadowsky acquired 10,000 shares of the business’s stock in a transaction on Monday, March 14th. The stock was acquired at an average price of $7.87 per share, for a total transaction of $78,700.00. The disclosure for this purchase can be found here. Insiders acquired 85,000 shares of company stock valued at $727,700 over the last 90 days.

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

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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