Vita Coco (NASDAQ:COCO) Upgraded by Wall Street Zen to Hold Rating

Vita Coco (NASDAQ:COCO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also weighed in on COCO. Morgan Stanley increased their price objective 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. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Piper Sandler increased their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Wells Fargo & Company lifted their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Vita Coco Stock Down 2.0%

Shares of NASDAQ:COCO opened at $52.88 on Friday. Vita Coco has a 52-week low of $25.79 and a 52-week high of $61.39. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 1.70 and a beta of 0.37. The business has a 50-day moving average price of $55.17 and a 200-day moving average price of $49.12.

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

Insider Activity at Vita Coco

In other news, CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $58.04, for a total transaction of $116,080.00. Following the sale, the chief financial officer directly owned 27,951 shares in the company, valued at $1,622,276.04. This trade represents a 6.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jane Prior sold 50,000 shares of Vita Coco stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $52.92, for a total value of $2,646,000.00. Following the completion of the transaction, the chief marketing officer owned 127,399 shares of the company’s stock, valued at approximately $6,741,955.08. This represents a 28.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 190,800 shares of company stock valued at $10,704,346 in the last quarter. 32.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its position in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 501 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of 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 lifted its position in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares in the last quarter. MAI Capital Management acquired a new stake in Vita Coco in the 2nd quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in Vita Coco by 5,376.0% in the 2nd 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 during the period. 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.