Vita Coco Company, Inc. (NASDAQ:COCO) Receives $56.38 Consensus Price Target from Brokerages

Vita Coco Company, Inc. (NASDAQ:COCO) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $56.3750.

Several brokerages have commented on COCO. Evercore restated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Morgan Stanley increased their price target on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Finally, Piper Sandler lifted their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th.

Insider Transactions at Vita Coco

In related news, CMO Jane Prior sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the sale, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at $6,741,955.08. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the transaction, the director owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 122,900 shares of company stock worth $6,731,318. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Vita Coco by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares during the period. Envestnet Asset Management Inc. boosted its stake in Vita Coco by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 33,243 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,872 shares in the last quarter. Geode Capital Management LLC grew its holdings in Vita Coco by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock worth $36,759,000 after purchasing an additional 28,448 shares during the period. SG Americas Securities LLC purchased a new stake in Vita Coco in the second quarter worth about $372,000. Finally, Intech Investment Management LLC increased its stake in shares of Vita Coco by 9.2% during the second quarter. Intech Investment Management LLC now owns 22,756 shares of the company’s stock valued at $821,000 after purchasing an additional 1,922 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

NASDAQ COCO opened at $58.14 on Friday. The stock has a market cap of $3.32 billion, a P/E ratio of 49.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.37. Vita Coco has a fifty-two week low of $25.79 and a fifty-two week high of $61.39. The stock has a 50 day simple moving average of $55.20 and a two-hundred day simple moving average of $48.91.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. During the same period last year, the firm posted $0.06 earnings per share. Vita Coco’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

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.