Vita Coco (NASDAQ:COCO) Issues Quarterly Earnings Results

Vita Coco (NASDAQ:COCO) announced its quarterly earnings data on Wednesday. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05, Briefing.com reports. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.99%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. Vita Coco updated its FY 2024 guidance to EPS.

Vita Coco Stock Up 0.2 %

NASDAQ:COCO opened at $26.51 on Friday. The company has a market capitalization of $1.50 billion, a PE ratio of 28.82, a P/E/G ratio of 2.01 and a beta of 0.18. Vita Coco has a 52-week low of $19.41 and a 52-week high of $33.29. The stock’s 50 day moving average price is $24.76 and its 200 day moving average price is $25.02.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COCO shares. The Goldman Sachs Group dropped their target price on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. William Blair lowered Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Piper Sandler increased their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

Insider Buying and Selling at Vita Coco

In other news, Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ira Liran sold 2,780 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.04, for a total transaction of $69,611.20. Following the transaction, the director now owns 992,644 shares of the company’s stock, valued at $24,855,805.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now directly owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,353 shares of company stock worth $1,309,536. 51.10% of the stock is owned by insiders.

Vita Coco Company Profile

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.