Vita Coco Company, Inc. (NASDAQ:COCO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $53.50.

Several equities research analysts recently commented on COCO shares. Jefferies Financial Group lifted their price objective on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Piper Sandler lifted their price target on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Morgan Stanley boosted their price objective on shares of Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th.

Vita Coco Stock Down 1.9%

Shares of COCO opened at $53.35 on Friday. Vita Coco has a twelve month low of $25.79 and a twelve month high of $56.46. The company has a market capitalization of $3.04 billion, a P/E ratio of 46.39, a price-to-earnings-growth ratio of 1.54 and a beta of 0.38. The firm has a 50 day moving average of $53.61 and a 200 day moving average of $44.18.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business had revenue of $182.31 million for the quarter, compared to the consensus estimate of $154.96 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue was up 37.2% compared to the same quarter last year. On average, sell-side analysts expect that Vita Coco will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 33,862 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the completion of the sale, the director owned 602,579 shares of the company’s stock, valued at $30,291,646.33. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Zupo sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the completion of the transaction, the director directly owned 12,162 shares in the company, valued at approximately $531,722.64. The trade was a 45.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 211,421 shares of company stock worth $10,080,091 in the last three months. 32.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COCO. GAMMA Investing LLC grew its position in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the period. CWM LLC grew its holdings in Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the period. Mariner LLC grew its holdings in Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares during the period. Envestnet Asset Management Inc. increased its position in Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after buying an additional 298 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Vita Coco by 3.2% in the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after buying an additional 376 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Company Profile

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.