Vita Coco Company, Inc. (NASDAQ:COCO) Receives $51.88 Average Target Price from Analysts

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.8750.

COCO has been the topic of several recent research reports. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $54.00 in a report on Monday, November 17th. The Goldman Sachs Group raised their price objective on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Wells Fargo & Company upped their target price on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th.

Insider Buying and Selling at Vita Coco

In related news, CEO Martin Roper sold 15,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $42.58, for a total value of $638,700.00. Following the transaction, the chief executive officer owned 222,515 shares in the company, valued at $9,474,688.70. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Liran sold 40,000 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $45.58, for a total value of $1,823,200.00. Following the sale, the director owned 558,341 shares of the company’s stock, valued at approximately $25,449,182.78. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 377,047 shares of company stock valued at $17,487,010 over the last three months. 32.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. grew its holdings in Vita Coco by 4.1% during the first quarter. Raymond James Financial Inc. now owns 225,307 shares of the company’s stock worth $6,906,000 after buying an additional 8,960 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Vita Coco by 3.4% in the first quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock valued at $13,026,000 after purchasing an additional 13,814 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Vita Coco in the first quarter valued at about $748,000. Trexquant Investment LP bought a new position in shares of Vita Coco during the first quarter valued at about $1,883,000. Finally, State of Wyoming boosted its holdings in Vita Coco by 238.9% during the first quarter. State of Wyoming now owns 7,314 shares of the company’s stock worth $224,000 after purchasing an additional 5,156 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

COCO opened at $53.01 on Tuesday. Vita Coco has a fifty-two week low of $25.79 and a fifty-two week high of $55.29. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 46.10, a PEG ratio of 1.93 and a beta of 0.38. The company’s 50 day moving average price is $49.13 and its two-hundred day moving average price is $41.64.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. During the same quarter last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. As a group, equities research analysts predict that Vita Coco will post 1.07 EPS for the current year.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.