The Vita Coco Company, Inc. Expected to Earn FY2024 Earnings of $1.10 Per Share (NASDAQ:COCO)

The Vita Coco Company, Inc. (NASDAQ:COCO) – Investment analysts at William Blair boosted their FY2024 earnings per share estimates for shares of Vita Coco in a report released on Wednesday, May 1st. William Blair analyst J. Andersen now expects that the company will post earnings per share of $1.10 for the year, up from their prior estimate of $0.97. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Vita Coco’s current full-year earnings is $1.02 per share.

COCO has been the topic of a number of other reports. The Goldman Sachs Group dropped their price target 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. Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Thursday, February 29th. Piper Sandler increased their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.67.

Vita Coco Trading Down 0.5 %

Shares of COCO stock opened at $26.37 on Monday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 28.66, a P/E/G ratio of 1.70 and a beta of 0.18. The firm’s 50 day moving average is $24.85 and its 200 day moving average is $25.03. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $112.00 million during the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. Vita Coco’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS.

Insider Activity

In related news, Director Ira Liran sold 13,998 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now directly owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total value of $350,229.96. Following the transaction, the director now directly owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the transaction, the chairman now owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The disclosure for this sale can be found here. Insiders have sold a total of 52,353 shares of company stock valued at $1,309,536 in the last ninety days. Corporate insiders own 51.10% of the company’s stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Headinvest LLC bought a new position in shares of Vita Coco in the third quarter worth about $29,000. Robeco Institutional Asset Management B.V. purchased a new stake in Vita Coco in the 4th quarter valued at about $60,000. New York State Teachers Retirement System bought a new position in Vita Coco in the 1st quarter worth about $63,000. PNC Financial Services Group Inc. increased its position in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after acquiring an additional 3,210 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Vita Coco by 1,237.2% during the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock valued at $167,000 after acquiring an additional 5,926 shares in the last quarter. Hedge funds and other institutional investors 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.