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

Vita Coco Company, Inc. (NASDAQ:COCO) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $69.00.

A number of brokerages recently weighed in on COCO. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a research report on Thursday, March 12th. Finally, Jefferies Financial Group boosted their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th.

Vita Coco Stock Up 5.0%

Shares of NASDAQ COCO opened at $71.60 on Monday. Vita Coco has a 52-week low of $30.54 and a 52-week high of $72.98. The firm has a fifty day moving average of $53.54 and a 200-day moving average of $51.94. The stock has a market capitalization of $4.09 billion, a PE ratio of 52.26, a P/E/G ratio of 1.64 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts expect that Vita Coco will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $48.93, for a total transaction of $190,827.00. Following the completion of the sale, the director owned 586,566 shares of the company’s stock, valued at $28,700,674.38. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Michael Kirban sold 50,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the sale, the chairman directly owned 515,681 shares of the company’s stock, valued at approximately $35,066,308. This represents a 8.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 429,800 shares of company stock worth $24,354,302. 32.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vita Coco by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after purchasing an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the period. Marshall Wace LLP acquired a new stake in shares of Vita Coco in the 2nd quarter worth approximately $9,627,000. Cerity Partners LLC acquired a new stake in shares of Vita Coco in the 2nd quarter worth approximately $645,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Vita Coco in the 2nd quarter worth approximately $2,990,000. 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.