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 a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.38.

Several analysts recently commented on COCO shares. Stephens restated an “equal weight” rating and issued a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Evercore ISI raised their target price on Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th.

Vita Coco Trading Up 2.9%

Shares of Vita Coco stock opened at $35.62 on Monday. The business’s 50 day simple moving average is $32.32 and its 200-day simple moving average is $34.72. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 2.25 and a beta of 0.38. Vita Coco has a twelve month low of $23.56 and a twelve month high of $40.32.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $130.92 million for the quarter, compared to analysts’ expectations of $125.64 million. During the same period in the prior year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Sell-side analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares of the company’s stock, valued at $243,077,764.25. This trade represents a 34.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Liran sold 1,723 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total value of $68,954.46. Following the sale, the director now directly owns 812,579 shares of the company’s stock, valued at approximately $32,519,411.58. This represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,832,485 shares of company stock valued at $131,288,213. 32.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

Large investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC boosted its stake in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $66,000. CWM LLC lifted its holdings in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after purchasing an additional 367 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Vita Coco in the first quarter valued at $111,000. 88.49% of the stock is owned by institutional investors.

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.