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

Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $56.3750.

A number of analysts have issued reports on the company. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Jefferies Financial Group increased their target price on shares of Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 17th.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $58.35 on Friday. Vita Coco has a 1 year low of $25.79 and a 1 year high of $59.88. The firm has a market capitalization of $3.33 billion, a PE ratio of 49.45, a P/E/G ratio of 1.84 and a beta of 0.37. The business’s 50 day moving average price is $54.93 and its 200-day moving average price is $48.48.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. Vita Coco’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. As a group, analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $56.65, for a total value of $1,699,500.00. Following the completion of the transaction, the director owned 572,579 shares of the company’s stock, valued at $32,436,600.35. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.91, for a total value of $808,650.00. Following the sale, the director directly owned 17,179 shares in the company, valued at $926,119.89. This represents a 46.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 122,800 shares of company stock valued at $6,698,956 over the last three months. 32.30% of the stock is currently owned by company insiders.

Institutional Trading of Vita Coco

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Vita Coco in the fourth quarter worth approximately $642,000. Invesco Ltd. increased its position in shares of Vita Coco by 13.9% in the 4th quarter. Invesco Ltd. now owns 50,206 shares of the company’s stock valued at $2,661,000 after purchasing an additional 6,115 shares during the last quarter. Vident Advisory LLC acquired a new stake in shares of Vita Coco in the 4th quarter valued at $284,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Vita Coco during the 4th quarter worth $73,242,000. Finally, Empowered Funds LLC purchased a new stake in shares of Vita Coco during the 4th quarter worth $583,000. Institutional investors and hedge funds 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.