Analysts Set Vita Coco Company, Inc. (NASDAQ:COCO) Target Price at $71.00

Vita Coco Company, Inc. (NASDAQ:COCO) has received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $71.00.

Several research analysts have recently weighed in on COCO shares. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Jefferies Financial Group boosted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 30,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares in the company, valued at $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 74,232 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $80.29, for a total value of $5,960,087.28. Following the transaction, the director directly owned 309,871 shares of the company’s stock, valued at $24,879,542.59. This trade represents a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 596,950 shares of company stock worth $43,711,695 in the last quarter. 12.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Several hedge funds have recently made changes to their positions in COCO. Caitong International Asset Management Co. Ltd grew its stake in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after buying an additional 501 shares during the last quarter. Quarry LP lifted its stake in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after acquiring an additional 958 shares during the period. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $73.87 on Friday. The company has a market cap of $4.22 billion, a P/E ratio of 53.92, a PEG ratio of 1.75 and a beta of 0.77. Vita Coco has a one year low of $31.79 and a one year high of $85.83. The business’s 50-day simple moving average is $75.70 and its 200 day simple moving average is $61.91.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm had revenue of $179.77 million during the quarter, compared to analysts’ expectations of $148.39 million. During the same quarter in the prior year, the business earned $0.31 EPS. Vita Coco’s quarterly revenue was up 37.4% compared to the same quarter last year. Analysts predict that Vita Coco will post 1.77 earnings per share for the current year.

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.