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

Vita Coco Company, Inc. (NASDAQ:COCO) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $53.50.

A number of analysts have recently weighed in on COCO shares. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Evercore increased their price objective on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Wells Fargo & Company boosted their target price on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Piper Sandler increased their price target on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Finally, Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th.

Vita Coco Stock Performance

Shares of COCO opened at $56.52 on Wednesday. Vita Coco has a one year low of $25.79 and a one year high of $59.88. The stock has a 50-day moving average price of $54.44 and a 200 day moving average price of $45.91. The company has a market capitalization of $3.22 billion, a P/E ratio of 49.15, a P/E/G ratio of 1.60 and a beta of 0.38.

Insider Buying and Selling

In other news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total value of $210,288.00. Following the transaction, the director directly owned 608,266 shares in the company, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the completion of the transaction, the director directly owned 572,579 shares of the company’s stock, valued at $32,436,600.35. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 117,043 shares of company stock valued at $6,222,959 over the last quarter. Company insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after purchasing an additional 237,510 shares during the period. Wasatch Advisors LP grew its holdings in Vita Coco by 3.3% in the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock worth $115,917,000 after buying an additional 86,541 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after acquiring an additional 224,305 shares during the period. Wellington Management Group LLP raised its stake in Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after acquiring an additional 1,392,678 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Vita Coco during the 3rd quarter valued at $62,815,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Company Profile

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.