Vita Coco (NASDAQ:COCO) Stock Rating Reaffirmed by Stephens

Vita Coco (NASDAQ:COCO)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a note issued to investors on Thursday, Benzinga reports. They currently have a $31.00 price target on the stock. Stephens’ price objective suggests a potential upside of 18.14% from the company’s previous close.

COCO has been the subject of a number of other research reports. Piper Sandler lifted their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Vita Coco Price Performance

NASDAQ:COCO opened at $26.24 on Thursday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 29.20, a PEG ratio of 1.65 and a beta of 0.18. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29. The company’s fifty day moving average price is $25.20 and its 200-day moving average price is $25.10.

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 the consensus estimate of $0.19 by $0.05. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Equities analysts anticipate that Vita Coco will post 1.04 EPS for the current fiscal year.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 19,198 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Ira Liran sold 2,780 shares of the 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 transaction, the director now directly owns 992,644 shares in the company, valued at approximately $24,855,805.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 19,198 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now directly 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 worth $1,309,536 in the last three months. Company insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cim LLC acquired a new stake in Vita Coco during the 1st quarter worth approximately $210,000. Comerica Bank increased its position in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after purchasing an additional 3,675 shares in the last quarter. California State Teachers Retirement System increased its position in Vita Coco by 14.3% during the 1st quarter. California State Teachers Retirement System now owns 37,001 shares of the company’s stock worth $904,000 after purchasing an additional 4,634 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Vita Coco during the 1st quarter worth approximately $305,000. Finally, Janus Henderson Group PLC increased its position in Vita Coco by 126.9% during the 1st quarter. Janus Henderson Group PLC now owns 30,131 shares of the company’s stock worth $736,000 after purchasing an additional 16,854 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.