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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.67.

COCO has been the topic of several research analyst reports. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Piper Sandler boosted their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group decreased their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Finally, TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd.

Vita Coco Trading Up 1.0 %

Shares of NASDAQ COCO opened at $26.25 on Thursday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 1.70 and a beta of 0.18. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29. The firm’s 50-day moving average price is $24.93 and its 200-day moving average price is $25.05.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million for 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. On average, equities analysts predict that Vita Coco will post 1.02 EPS for the current fiscal year.

Insider Transactions at Vita Coco

In related news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Ira Liran sold 2,780 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.04, for a total transaction of $69,611.20. Following the completion of the transaction, the director now directly owns 992,644 shares of the company’s stock, valued at approximately $24,855,805.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The disclosure for this sale can be found here. Insiders have sold a total of 52,353 shares of company stock valued at $1,309,536 in the last 90 days. Insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Syon Capital LLC purchased a new stake in Vita Coco during the fourth quarter worth about $113,931,000. FMR LLC lifted its holdings in shares of Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after purchasing an additional 1,000,408 shares during the period. Vanguard Group Inc. increased its stake in Vita Coco by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock valued at $50,910,000 after buying an additional 108,844 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Vita Coco by 41.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock valued at $27,151,000 after purchasing an additional 304,659 shares in the last quarter. Finally, abrdn plc acquired a new stake in Vita Coco in the fourth quarter valued at $22,321,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.