The Vita Coco Company, Inc. (NASDAQ:COCO) Expected to Post Q2 2024 Earnings of $0.36 Per Share

The Vita Coco Company, Inc. (NASDAQ:COCO) – Research analysts at William Blair raised their Q2 2024 earnings per share estimates for Vita Coco in a note issued to investors on Wednesday, May 1st. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of $0.36 for the quarter, up from their prior estimate of $0.33. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Vita Coco’s current full-year earnings is $0.97 per share. William Blair also issued estimates for Vita Coco’s Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $1.25 EPS.

Other equities analysts have also recently issued research reports about the company. Piper Sandler raised their price objective on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. The Goldman Sachs Group dropped their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Finally, Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Vita Coco Trading Up 0.2 %

Shares of COCO stock opened at $26.51 on Friday. The firm’s fifty day moving average price is $24.76 and its two-hundred day moving average price is $25.02. Vita Coco has a 1 year low of $19.41 and a 1 year high of $33.29. The firm has a market capitalization of $1.50 billion, a P/E ratio of 28.82, a PEG ratio of 2.01 and a beta of 0.18.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a net margin of 10.93% and a return on equity of 26.99%. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. During the same period last year, the company earned $0.12 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the transaction, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Liran sold 2,780 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the completion of the sale, the director now directly owns 992,644 shares of the company’s stock, valued at approximately $24,855,805.76. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock worth $1,309,536 over the last quarter. Company insiders own 51.10% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Syon Capital LLC bought a new stake in Vita Coco during the 4th quarter worth approximately $113,931,000. Oak Ridge Investments LLC bought a new stake in Vita Coco during the 4th quarter worth approximately $1,922,000. AMI Asset Management Corp grew its holdings in Vita Coco by 51.4% during the 4th quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock worth $3,126,000 after acquiring an additional 41,374 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Vita Coco by 69.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 124,227 shares of the company’s stock worth $3,235,000 after acquiring an additional 51,043 shares during the last quarter. Finally, 12 West Capital Management LP bought a new stake in Vita Coco during the 3rd quarter worth approximately $9,114,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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.