The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.67.

A number of brokerages recently issued reports on COCO. TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. The Goldman Sachs Group decreased their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company 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 objective on the stock in a research note on Thursday, February 29th. Piper Sandler lifted their target price on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, William Blair lowered Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 13,998 shares of the stock in a transaction 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 sale, the director now directly owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Michael Kirban sold 6,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,500.00. Following the sale, the chairman now owns 633,448 shares of the company’s stock, valued at $15,836,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ira Liran sold 13,998 shares of the 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 completion of the transaction, the director now directly owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The disclosure for this sale can be found here. Insiders sold 52,353 shares of company stock worth $1,309,536 in the last 90 days. 34.20% of the stock is currently owned by company insiders.

Institutional Trading of Vita Coco

Hedge funds have recently added to or reduced their stakes in the business. Headinvest LLC acquired a new position in shares of Vita Coco during the third quarter valued at $29,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Vita Coco during the 4th quarter worth about $60,000. New York State Teachers Retirement System acquired a new stake in shares of Vita Coco in the 1st quarter worth approximately $63,000. PNC Financial Services Group Inc. lifted its stake in shares of Vita Coco by 1,289.2% in the 4th 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. boosted its holdings in shares of Vita Coco by 1,237.2% in 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. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

NASDAQ:COCO opened at $26.25 on Thursday. The firm has a 50-day moving average of $24.93 and a two-hundred day moving average of $25.05. The stock has a market cap of $1.49 billion, a P/E ratio of 28.53, a PEG ratio of 1.70 and a beta of 0.18. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm had revenue of $112.00 million during the quarter, compared to the consensus estimate of $111.72 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. Vita Coco’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Vita Coco will post 1.02 earnings per share for the current year.

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.