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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $70.4286.

Several brokerages recently issued reports on COCO. Citigroup reissued a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Finally, Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a report on Thursday, April 30th.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 40,000 shares of Vita Coco stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $3,691,762.50. The trade was a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 25,000 shares of Vita Coco stock in a transaction on Friday, April 24th. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares in the company, valued at $14,924,200. This represents a 7.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 707,306 shares of company stock valued at $49,251,613. 32.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew 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 worth $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP grew its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Vita Coco by 25.0% in 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. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $73.63 on Tuesday. The firm has a market cap of $4.20 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 1.77 and a beta of 0.74. The firm’s 50 day simple moving average is $71.57 and its 200-day simple moving average is $59.95. Vita Coco has a one year low of $31.79 and a one year high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Equities research analysts predict that Vita Coco will post 1.76 EPS for the current fiscal year.

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.