Vita Coco Company, Inc. (NASDAQ:COCO) Stock Has Consensus Target Price of $74.12 According to Analysts

Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $74.12.

A number of equities analysts have recently commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Vita Coco in a report on Thursday, October 22nd. Weiss Ratings cut shares of Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Piper Sandler raised their price objective on shares of Vita Coco from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Evercore restated an “outperform” rating on shares of Vita Coco in a research note on Friday, October 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. TT International Asset Management LTD acquired a new stake in Vita Coco during the 3rd quarter worth approximately $1,273,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Vita Coco by 11.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 11,071 shares of the company’s stock valued at $634,000 after purchasing an additional 1,100 shares during the period. Signature Equity Partners LLC acquired a new position in shares of Vita Coco in the third quarter valued at approximately $42,000. State of Wyoming increased its holdings in shares of Vita Coco by 25.6% in the third quarter. State of Wyoming now owns 4,127 shares of the company’s stock valued at $236,000 after purchasing an additional 841 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Vita Coco by 137.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 40,200 shares of the company’s stock worth $2,302,000 after purchasing an additional 23,300 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

NASDAQ:COCO opened at $58.48 on Monday. The company has a market capitalization of $3.34 billion, a PE ratio of 29.39, a P/E/G ratio of 1.50 and a beta of 0.76. Vita Coco has a 52-week low of $39.69 and a 52-week high of $85.83. The stock’s 50 day moving average price is $57.44 and its 200 day moving average price is $61.61.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $243.83 million during the quarter, compared to analysts’ expectations of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Vita Coco will post 2.06 EPS for the current fiscal year.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.