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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $53.50.

COCO has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Evercore ISI raised their target price on Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Wells Fargo & Company boosted their price target on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $52.30 on Friday. Vita Coco has a one year low of $25.79 and a one year high of $56.46. The business’s 50 day simple moving average is $52.85 and its two-hundred day simple moving average is $43.59. The stock has a market capitalization of $2.98 billion, a P/E ratio of 45.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.38.

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

Insiders Place Their Bets

In related news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total value of $210,288.00. Following the sale, the director owned 608,266 shares in the company, valued at $32,797,702.72. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Zupo sold 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the completion of the transaction, the director owned 12,162 shares of the company’s stock, valued at $531,722.64. This trade represents a 45.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 349,153 shares of company stock valued at $16,355,806 in the last 90 days. 32.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its position in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares in the last quarter. Quarry LP boosted its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after acquiring an additional 758 shares in the last quarter. MAI Capital Management purchased a new stake in shares of Vita Coco in the second quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Vita Coco during the second quarter valued at $50,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.