The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $31.00 Average PT from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.00.

Separately, Craig Hallum boosted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Vita Coco Stock Performance

NASDAQ COCO opened at $35.62 on Monday. Vita Coco has a 52-week low of $19.41 and a 52-week high of $37.05. The company has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $28.43. The company has a market capitalization of $2.02 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. As a group, analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares in the company, valued at approximately $3,739,396.05. The trade was a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the sale, the chief executive officer now owns 452,452 shares of the company’s stock, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,313 shares of company stock worth $1,992,268 over the last three months. 34.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the period. Arizona State Retirement System lifted its stake in shares of Vita Coco by 9.5% in the 2nd quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after purchasing an additional 960 shares during the period. US Bancorp DE increased its holdings in Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after acquiring an additional 1,178 shares in the last quarter. Captrust Financial Advisors increased its holdings in Vita Coco by 7.2% in the 3rd quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock worth $603,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other 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.