Vita Coco (NASDAQ:COCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Vita Coco (NASDAQ:COCO) from a sell rating to a hold rating in a research note published on Saturday.

Other analysts have also issued research reports about the company. Evercore reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. Wells Fargo & Company raised their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Piper Sandler boosted their price target on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Morgan Stanley increased their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.38.

Vita Coco Stock Up 5.5%

Shares of Vita Coco stock opened at $55.77 on Friday. Vita Coco has a twelve month low of $25.79 and a twelve month high of $61.39. The company’s 50 day moving average is $55.17 and its 200 day moving average is $49.42. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 47.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last posted 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 company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. Sell-side analysts expect that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, insider Es Charles Van sold 2,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $57.98, for a total value of $115,960.00. Following the completion of the sale, the insider owned 79,691 shares in the company, valued at $4,620,484.18. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $56.92, for a total value of $221,988.00. Following the completion of the transaction, the director directly owned 590,466 shares in the company, valued at $33,609,324.72. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 190,800 shares of company stock valued at $10,704,346 in the last ninety days. 34.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Vita Coco during the third quarter valued at approximately $62,815,000. Wellington Management Group LLP raised its position in shares of Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Vita Coco during the 4th quarter valued at $73,242,000. Westfield Capital Management Co. LP purchased a new position in shares of Vita Coco during the 3rd quarter valued at $45,135,000. Finally, Millennium Management LLC lifted its stake in shares of Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares in the last quarter. 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.