Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) PT at $29.71

The Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $29.71.

A number of brokerages have issued reports on COCO. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Thursday, February 29th. Piper Sandler upped their price objective on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group cut their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. William Blair lowered Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, TheStreet lowered Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd.

Vita Coco Stock Performance

COCO stock opened at $23.93 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of 29.91, a P/E/G ratio of 2.00 and a beta of 0.16. The firm’s fifty day moving average is $23.79 and its 200 day moving average is $25.22. Vita Coco has a one year low of $19.41 and a one year high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. Vita Coco’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. Research analysts predict that Vita Coco will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the transaction, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ira Liran sold 6,915 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total transaction of $172,875.00. Following the completion of the sale, the director now owns 985,729 shares in the company, valued at $24,643,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the sale, the chairman now owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock valued at $1,309,536 over the last quarter. 51.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in the business. Syon Capital LLC acquired a new stake in shares of Vita Coco during the fourth quarter worth about $113,931,000. FMR LLC boosted its stake in shares of Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after buying an additional 1,000,408 shares during the period. Vanguard Group Inc. boosted its stake in shares of Vita Coco by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 2,144,430 shares of the company’s stock worth $55,005,000 after buying an additional 189,355 shares during the period. BlackRock Inc. raised its holdings in Vita Coco by 12.9% during the second quarter. BlackRock Inc. now owns 1,997,803 shares of the company’s stock worth $53,681,000 after purchasing an additional 228,678 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Vita Coco by 41.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock worth $27,151,000 after purchasing an additional 304,659 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

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, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.