Vita Coco Company, Inc. (NASDAQ:COCO) Receives $77.71 Average Target Price from Analysts

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have received an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $77.7143.

COCO has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group raised their price target on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 96,158 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the completion of the sale, the director owned 476,421 shares in the company, valued at $37,703,957.94. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the sale, the director owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. The trade was a 0.67% 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. In the last ninety days, insiders sold 351,945 shares of company stock valued at $28,007,266. 12.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 501 shares in the last quarter. Quarry LP raised its stake in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after acquiring an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Vita Coco by 5,376.0% during 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 in the last quarter. Rockefeller Capital Management L.P. lifted its position in Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after acquiring an additional 958 shares during the last quarter. Finally, CWM LLC lifted its position in Vita Coco by 18.2% in the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Down 3.0%

Shares of COCO stock opened at $63.54 on Wednesday. The firm has a 50 day moving average of $71.67 and a two-hundred day moving average of $63.79. The stock has a market capitalization of $3.65 billion, a PE ratio of 35.11, a P/E/G ratio of 1.23 and a beta of 0.77. Vita Coco has a 52 week low of $33.19 and a 52 week high of $85.83.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data 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. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business had revenue of $216.15 million for the quarter, compared to analysts’ expectations of $210.64 million. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts expect that Vita Coco will post 1.96 EPS for the current fiscal 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.