Vita Coco (NASDAQ:COCO) Downgraded by Wall Street Zen to “Sell”

Vita Coco (NASDAQ:COCO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a report issued on Saturday.

COCO has been the subject of a number of other research reports. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and boosted their price target for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Evercore reiterated an “outperform” rating and set a $58.00 target price on shares of Vita Coco in a report on Thursday. Wells Fargo & Company increased 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. Morgan Stanley lifted 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Vita Coco Stock Performance

Vita Coco stock opened at $53.96 on Friday. Vita Coco has a 1 year low of $25.79 and a 1 year high of $59.88. The firm has a 50 day moving average price of $54.29 and a 200 day moving average price of $46.12. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.47 and a beta of 0.38.

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

Insider Buying and Selling

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Liran sold 33,862 shares of Vita Coco stock in a transaction on Monday, November 24th. The stock was sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the sale, the director directly owned 602,579 shares in the company, valued at $30,291,646.33. This trade represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 117,043 shares of company stock valued at $6,222,959. 32.30% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

Several large investors have recently modified their holdings of COCO. Vanguard Group Inc. boosted its holdings in 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 last quarter. Wasatch Advisors LP raised its position in shares of Vita Coco by 3.3% in the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock valued at $115,917,000 after purchasing an additional 86,541 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Vita Coco by 22.1% in the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after purchasing an additional 439,958 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Vita Coco by 12.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after buying an additional 224,305 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Vita Coco during the third quarter worth approximately $62,815,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.