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

Vita Coco Company, Inc. (NASDAQ:COCO) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $76.8571.

Several brokerages recently weighed in on COCO. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley increased their target price on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Citigroup reissued a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Weiss Ratings restated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Finally, Evercore increased their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th.

Vita Coco Stock Up 1.8%

Vita Coco stock opened at $52.01 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75. Vita Coco has a 52 week low of $37.63 and a 52 week high of $85.83. The business’s 50-day moving average price is $64.78 and its 200 day moving average price is $64.10.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The firm had revenue of $216.15 million during the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Equities analysts expect that Vita Coco will post 1.95 EPS for the current year.

Insider Buying and Selling at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director directly owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. BlackRock Inc. acquired a new stake in shares of Vita Coco in the second quarter valued at about $463,654,000. California State Teachers Retirement System boosted its position in Vita Coco by 6,377.2% during the second quarter. California State Teachers Retirement System now owns 3,710,388 shares of the company’s stock worth $245,405,000 after acquiring an additional 3,653,104 shares during the last quarter. Wasatch Advisors LP grew its stake in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after acquiring an additional 1,637,437 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $84,617,000 after purchasing an additional 1,392,678 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco during the 4th quarter worth approximately $73,242,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on better-for-you hydration products. Its flagship Vita Coco brand offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional hydration products, such as protein and electrolyte beverages, through its broader brand portfolio.

Founded in 2004 by Michael Kirban and Ira Liran, Vita Coco helped popularize coconut water in the United States. The company sells its products through grocery stores, mass retailers, convenience stores, club stores, e-commerce platforms and other retail channels.