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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $56.3750.

A number of analysts have recently issued reports on COCO shares. Morgan Stanley lifted their target price on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Wells Fargo & Company upped their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Piper Sandler increased their target price on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th.

Insider Transactions at Vita Coco

In other news, CMO Jane Prior sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $52.92, for a total value of $2,646,000.00. Following the sale, the chief marketing officer owned 127,399 shares in the company, valued at approximately $6,741,955.08. This represents a 28.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Es Charles Van sold 2,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $57.98, for a total transaction of $115,960.00. Following the transaction, the insider directly owned 79,691 shares in the company, valued at $4,620,484.18. The trade was a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 190,800 shares of company stock valued at $10,704,346 over the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares in the last quarter. CWM LLC grew its position in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares in the last quarter. Mariner LLC increased its holdings in shares of Vita Coco by 2.8% in the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after acquiring an additional 236 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Vita Coco by 0.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after acquiring an additional 298 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Vita Coco by 3.2% during the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after acquiring an additional 376 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Trading Down 2.0%

Shares of COCO stock opened at $52.88 on Friday. The firm has a fifty day simple moving average of $55.17 and a 200-day simple moving average of $49.20. The company has a market capitalization of $3.02 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. Vita Coco has a twelve month low of $25.79 and a twelve month high of $61.39.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Equities research analysts predict that Vita Coco will post 1.07 EPS for the current 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.