Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Recommendation of “Moderate Buy” from Analysts

Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $59.4286.

COCO has been the topic of several analyst reports. Evercore reaffirmed an “outperform” rating and set a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a report on Friday, March 27th. Morgan Stanley raised their target price on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Wells Fargo & Company dropped their target price on Vita Coco from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th.

Vita Coco Stock Down 0.1%

Shares of NASDAQ:COCO opened at $49.16 on Thursday. Vita Coco has a 52-week low of $27.43 and a 52-week high of $61.39. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 1.52 and a beta of 0.47. The business has a 50-day moving average price of $54.20 and a 200-day moving average price of $50.20.

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

Insider Buying and Selling

In other Vita Coco news, insider Es Charles Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.67, for a total value of $97,340.00. Following the sale, the insider directly owned 77,691 shares of the company’s stock, valued at approximately $3,781,220.97. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $56.92, for a total value of $221,988.00. Following the completion of the sale, the director directly owned 590,466 shares in the company, valued at approximately $33,609,324.72. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 192,800 shares of company stock valued at $10,801,686 in the last 90 days. Corporate insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

Several institutional investors have recently bought and sold shares of COCO. New York State Common Retirement Fund lifted its position in shares of Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock valued at $21,703,000 after acquiring an additional 47,632 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Vita Coco in the third quarter valued at approximately $45,135,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Vita Coco in the third quarter valued at approximately $2,230,000. Harbor Capital Advisors Inc. purchased a new position in shares of Vita Coco in the third quarter valued at approximately $821,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Vita Coco in the third quarter valued at approximately $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.