Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) Price Target at $29.67

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $29.67.

Separately, Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Vita Coco in a report on Thursday, May 23rd.

Insider Buying and Selling

In other news, Director Ira Liran sold 6,915 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the transaction, the director now directly owns 985,729 shares in the company, valued at $24,643,225. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ira Liran sold 6,915 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the sale, the director now owns 985,729 shares of the company’s stock, valued at approximately $24,643,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael Kirban sold 6,900 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total value of $172,500.00. Following the transaction, the chairman now directly owns 633,448 shares of the company’s stock, valued at approximately $15,836,200. The disclosure for this sale can be found here. Insiders sold 41,317 shares of company stock valued at $1,159,580 over the last 90 days. 34.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in the business. Syon Capital LLC purchased a new stake in Vita Coco in the 4th quarter worth about $113,931,000. FMR LLC increased its stake in Vita Coco by 72.3% in the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after buying an additional 1,000,408 shares during the period. Vanguard Group Inc. lifted its position in Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after buying an additional 230,991 shares in the last quarter. abrdn plc acquired a new stake in shares of Vita Coco during the 4th quarter valued at $22,321,000. Finally, Champlain Investment Partners LLC purchased a new position in shares of Vita Coco during the 1st quarter valued at $18,210,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Up 1.7 %

Shares of NASDAQ COCO opened at $27.85 on Friday. The firm’s 50-day moving average price is $27.13 and its two-hundred day moving average price is $25.04. Vita Coco has a 52-week low of $19.41 and a 52-week high of $33.29. The stock has a market capitalization of $1.58 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.75 and a beta of 0.26.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. As a group, equities research analysts expect that Vita Coco will post 1.04 earnings per share for the current year.

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.