Vita Coco Company, Inc. (NASDAQ:COCO) Receives $53.50 Average Target Price from Analysts

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $53.8750.

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday. Evercore reissued an “outperform” rating and set a $58.00 price target on shares of Vita Coco in a report on Thursday. Piper Sandler lifted their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th.

Vita Coco Stock Performance

Shares of COCO opened at $53.96 on Wednesday. Vita Coco has a fifty-two week low of $25.79 and a fifty-two week high of $59.88. The firm has a 50-day simple moving average of $54.29 and a 200-day simple moving average of $46.12. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 1.47 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Equities research analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the transaction, the director directly owned 608,266 shares of the company’s stock, valued at $32,797,702.72. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira Liran sold 33,862 shares of the 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 117,043 shares of company stock worth $6,222,959 in the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 501 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares during the period. Quarry LP increased its stake in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares in the last quarter. MAI Capital Management purchased a new position in Vita Coco in the 2nd quarter valued at approximately $33,000. Finally, GAMMA Investing LLC raised its holdings in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.