Shares of The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) have been given an average rating of “Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.14.
A number of equities analysts have recently weighed in on the stock. Credit Suisse Group lowered their price target on shares of Vita Coco from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, March 11th. Zacks Investment Research raised shares of Vita Coco from a “sell” rating to a “hold” rating in a research note on Monday, May 16th. Piper Sandler dropped their target price on shares of Vita Coco from $17.00 to $15.00 and set a “na” rating for the company in a research report on Monday, May 16th. Wells Fargo & Company lowered their price objective on shares of Vita Coco from $15.00 to $11.00 and set an “overweight” rating for the company in a research report on Friday, March 11th. Finally, The Goldman Sachs Group reduced their target price on Vita Coco from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, April 4th.
Shares of Vita Coco stock opened at $11.04 on Wednesday. Vita Coco has a 52-week low of $7.51 and a 52-week high of $18.61. The company has a 50 day moving average of $9.82 and a 200 day moving average of $10.92. The company has a current ratio of 2.94, a quick ratio of 1.32 and a debt-to-equity ratio of 0.09.
In other news, CEO Martin F. Roper acquired 25,000 shares of the stock in a transaction dated Friday, March 18th. The shares were acquired at an average cost of $9.06 per share, for a total transaction of $226,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Sadowsky acquired 10,000 shares of the stock in a transaction dated Monday, March 14th. The shares were purchased at an average price of $7.87 per share, for a total transaction of $78,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 85,000 shares of company stock valued at $727,700. 7.16% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. TimesSquare Capital Management LLC acquired a new position in shares of Vita Coco during the fourth quarter valued at $8,715,000. The Manufacturers Life Insurance Company acquired a new position in shares of Vita Coco during the fourth quarter valued at $8,289,000. BlackRock Inc. acquired a new position in shares of Vita Coco during the fourth quarter valued at $7,449,000. Lord Abbett & CO. LLC acquired a new position in shares of Vita Coco during the first quarter valued at $5,746,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Vita Coco during the fourth quarter valued at $6,702,000. 16.12% of the stock is currently owned by institutional investors and hedge funds.
Vita Coco Company Profile (Get Rating)
The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.
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