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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $29.71.

COCO has been the topic of a number of research reports. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group cut their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Piper Sandler increased their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd.

Vita Coco Trading Up 0.5 %

NASDAQ COCO opened at $23.38 on Friday. The company has a fifty day simple moving average of $24.07 and a two-hundred day simple moving average of $25.14. The stock has a market cap of $1.33 billion, a P/E ratio of 29.23, a P/E/G ratio of 1.86 and a beta of 0.16. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. As a group, sell-side analysts forecast that Vita Coco will post 0.92 earnings per share for the current year.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Liran sold 6,915 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,875.00. Following the sale, the director now directly owns 985,729 shares of the company’s stock, valued at approximately $24,643,225. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,353 shares of company stock worth $1,309,536. 51.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Syon Capital LLC acquired a new position in Vita Coco during the fourth quarter worth about $113,931,000. FMR LLC boosted its position in Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after acquiring an additional 1,000,408 shares during the last quarter. Vanguard Group Inc. boosted its position in Vita Coco by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 2,144,430 shares of the company’s stock worth $55,005,000 after acquiring an additional 189,355 shares during the last quarter. BlackRock Inc. boosted its position in Vita Coco by 12.9% during the second quarter. BlackRock Inc. now owns 1,997,803 shares of the company’s stock worth $53,681,000 after acquiring an additional 228,678 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Vita Coco by 41.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock worth $27,151,000 after acquiring an additional 304,659 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.