The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $30.00 Consensus Target Price from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

Several equities research analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Jefferies Financial Group reduced their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Bank of America lifted their price target on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th.

Vita Coco Stock Up 2.0 %

Shares of NASDAQ COCO opened at $27.40 on Wednesday. The business’s 50 day moving average price is $25.99 and its two-hundred day moving average price is $26.14. The company has a market cap of $1.56 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.22. Vita Coco has a twelve month low of $19.41 and a twelve month high of $32.12.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Vita Coco will post 0.95 EPS for the current fiscal year.

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 6,836 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $205,353.44. Following the sale, the chief operating officer now owns 127,168 shares of the company’s stock, valued at approximately $3,820,126.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Vita Coco news, COO Jonathan Burth sold 6,836 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $205,353.44. Following the completion of the transaction, the chief operating officer now owns 127,168 shares of the company’s stock, valued at approximately $3,820,126.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Es Charles Van sold 4,372 shares of Vita Coco stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total value of $131,160.00. Following the sale, the insider now directly owns 97,668 shares in the company, valued at $2,930,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,272 shares of company stock worth $548,701. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the business. Syon Capital LLC acquired a new position in shares of Vita Coco during the fourth quarter worth $113,931,000. Victory Capital Management Inc. grew its position in shares of Vita Coco by 899.4% in the 4th quarter. Victory Capital Management Inc. now owns 277,823 shares of the company’s stock valued at $7,126,000 after buying an additional 250,024 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Vita Coco in the fourth quarter valued at about $995,000. AMI Asset Management Corp raised its position in shares of Vita Coco by 43.2% during the first quarter. AMI Asset Management Corp now owns 174,502 shares of the company’s stock worth $4,263,000 after acquiring an additional 52,646 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Vita Coco by 103.3% during the fourth quarter. Trexquant Investment LP now owns 146,570 shares of the company’s stock worth $3,760,000 after acquiring an additional 74,457 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Company Profile

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.