Vita Coco Company, Inc. (NASDAQ:COCO) Given Average Recommendation of “Moderate Buy” by Analysts

Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.8750.

A number of research analysts have recently issued reports on COCO shares. Zacks Research raised Vita Coco from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Vita Coco in a research report on Monday. Jefferies Financial Group upped their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Piper Sandler lifted their price target on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Finally, Morgan Stanley boosted their price objective on shares of Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, November 17th.

Vita Coco Stock Down 1.5%

Shares of COCO opened at $53.79 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 46.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.37. The firm has a 50 day moving average of $44.32 and a 200 day moving average of $39.09. Vita Coco has a twelve month low of $25.79 and a twelve month high of $55.09.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The firm’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. On average, sell-side analysts expect that Vita Coco will post 1.07 EPS for the current year.

Insider Activity

In other Vita Coco news, Director Ira Liran sold 50,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total value of $2,100,000.00. Following the transaction, the director owned 692,579 shares of the company’s stock, valued at approximately $29,088,318. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00. Following the completion of the transaction, the chairman directly owned 1,599,049 shares in the company, valued at $62,618,758.84. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,784,153 shares of company stock valued at $156,384,633 in the last ninety days. 32.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its position in Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company’s stock valued at $161,000 after buying an additional 364 shares during the period. Commerce Bank grew its position in shares of Vita Coco by 15.2% during the 1st quarter. Commerce Bank now owns 10,625 shares of the company’s stock valued at $326,000 after acquiring an additional 1,405 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Vita Coco by 16.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company’s stock worth $164,000 after purchasing an additional 758 shares in the last quarter. Vanguard Group Inc. raised its holdings in Vita Coco by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock worth $80,987,000 after purchasing an additional 53,172 shares during the period. Finally, Invesco Ltd. lifted its position in Vita Coco by 398.5% during the first quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock valued at $2,999,000 after purchasing an additional 78,229 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.