The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $35.38 Average PT from Analysts

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $35.38.

Several research analysts have recently weighed in on COCO shares. Wells Fargo & Company reduced their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Evercore ISI increased their target price on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. Finally, The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th.

Insider Transactions at Vita Coco

In other Vita Coco news, Director John Zupo sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $34.77, for a total value of $278,160.00. Following the completion of the transaction, the director now directly owns 8,876 shares in the company, valued at $308,618.52. This trade represents a 47.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the transaction, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This trade represents a 34.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,830,762 shares of company stock worth $131,219,259 in the last three months. Insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently made changes to their positions in COCO. Barclays PLC increased its holdings in Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after buying an additional 46,385 shares during the last quarter. Pier Capital LLC grew its position in shares of Vita Coco by 39.6% in the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock valued at $7,405,000 after acquiring an additional 56,879 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Vita Coco during the 4th quarter worth about $7,985,000. Renaissance Technologies LLC bought a new stake in shares of Vita Coco in the 4th quarter valued at about $458,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Vita Coco in the 4th quarter valued at about $1,806,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.9%

COCO stock opened at $36.84 on Monday. Vita Coco has a 1-year low of $23.56 and a 1-year high of $40.32. The firm has a market cap of $2.09 billion, a PE ratio of 37.21, a P/E/G ratio of 2.25 and a beta of 0.38. The business’s 50-day moving average price is $32.44 and its two-hundred day moving average price is $34.78.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same quarter last year, the firm posted $0.24 earnings per share. Vita Coco’s revenue was up 17.2% compared to the same quarter last year. On average, analysts forecast that Vita Coco will post 1.07 earnings per share for the current year.

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.