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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.71.

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

Vita Coco Stock Down 0.7 %

COCO opened at $23.26 on Friday. Vita Coco has a twelve month low of $19.41 and a twelve month high of $33.29. The company has a 50-day simple moving average of $23.95 and a 200 day simple moving average of $25.19. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 1.91 and a beta of 0.16.

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

Insider Activity

In other news, Director Ira Liran sold 13,998 shares of the company’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 completion of the transaction, the director now owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ira Liran sold 13,998 shares of the company’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 completion of the transaction, the director now owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction that occurred 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 directly 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 sold 52,353 shares of company stock valued at $1,309,536 over the last quarter. 51.10% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in Vita Coco by 41.8% during the 1st quarter. Wasatch Advisors LP now owns 398,057 shares of the company’s stock valued at $9,725,000 after purchasing an additional 117,346 shares during the period. PNC Financial Services Group Inc. increased its position in Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after purchasing an additional 3,210 shares during the period. Vanguard Group Inc. increased its position in Vita Coco by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 2,144,430 shares of the company’s stock valued at $55,005,000 after purchasing an additional 189,355 shares during the period. Syon Capital LLC acquired a new stake in Vita Coco during the 4th quarter valued at approximately $113,931,000. Finally, Virtu Financial LLC acquired a new stake in Vita Coco during the 4th quarter valued at approximately $352,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.