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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $54.8750.

Several brokerages recently commented on COCO. Wells Fargo & Company raised their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Jefferies Financial Group lifted their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and upped their target price for the company from $48.00 to $54.00 in a research note on Monday, November 17th. Evercore reaffirmed an “outperform” rating and set a $58.00 price target on shares of Vita Coco in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday.

Insider Activity 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 stock was sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the completion of the sale, the director owned 572,579 shares in the company, valued at $32,436,600.35. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the completion of the transaction, the director directly owned 17,179 shares in the company, valued at approximately $926,119.89. The trade was a 46.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 72,800 shares of company stock valued at $4,052,956. Insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC raised its stake in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares in the last quarter. Quarry LP lifted its holdings in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares during the last quarter. MAI Capital Management acquired a new position in shares of Vita Coco in the 2nd quarter worth approximately $33,000. Finally, GAMMA Investing LLC grew its position in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Up 3.0%

Shares of COCO stock opened at $55.24 on Wednesday. The company has a market cap of $3.15 billion, a PE ratio of 46.81, a P/E/G ratio of 1.69 and a beta of 0.38. The company’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $46.62. Vita Coco has a 52 week low of $25.79 and a 52 week high of $59.88.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company 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%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. Equities research analysts expect that Vita Coco will post 1.07 EPS for the current fiscal 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.