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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $77.7143.

COCO has been the subject of several research reports. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Evercore raised their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. 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, Wells Fargo & Company increased their target price on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th.

Vita Coco Stock Up 0.1%

Shares of NASDAQ COCO opened at $55.13 on Friday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.04 and a beta of 0.75. Vita Coco has a 52-week low of $37.27 and a 52-week high of $85.83. The business’s 50 day moving average is $66.32 and its two-hundred day moving average is $64.14.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The business had revenue of $216.15 million during the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. Analysts anticipate that Vita Coco will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 73,842 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the sale, the director directly owned 402,579 shares in the company, valued at approximately $32,335,145.28. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction 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 transaction, the director directly owned 580,296 shares of the company’s stock, valued at $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. 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 sold 343,900 shares of company stock worth $27,403,488. Insiders own 12.90% of the company’s stock.

Institutional Trading of Vita Coco

A number of large investors have recently made changes to their positions in COCO. BlackRock Inc. purchased a new position in Vita Coco in the second quarter worth approximately $463,654,000. California State Teachers Retirement System grew its stake in shares of Vita Coco by 6,377.2% during the second quarter. California State Teachers Retirement System now owns 3,710,388 shares of the company’s stock worth $245,405,000 after purchasing an additional 3,653,104 shares in the last quarter. Wasatch Advisors LP increased its holdings in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Vanguard Group Inc. increased its holdings in Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Vita Coco by 22.1% in the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after buying an additional 439,958 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

About Vita Coco

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.