The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Consensus Rating of “Moderate Buy” from Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.17.

A number of analysts have issued reports on COCO shares. Wells Fargo & Company raised their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group lowered their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Bank of America boosted their target price on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler cut shares of 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.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.20% of the stock is currently owned by company insiders.

Institutional Trading of Vita Coco

A number of hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in Vita Coco in the first quarter valued at $63,000. nVerses Capital LLC lifted its position in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares in the last quarter. CWM LLC boosted its stake in shares of Vita Coco by 40.7% in the second 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. PNC Financial Services Group Inc. grew its holdings in Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after purchasing an additional 3,210 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after buying an additional 919 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Up 0.1 %

Shares of COCO stock opened at $28.26 on Friday. The business’s 50 day moving average is $26.72 and its two-hundred day moving average is $26.57. Vita Coco has a 12-month low of $19.41 and a 12-month high of $31.42. The company has a market capitalization of $1.60 billion, a P/E ratio of 30.72, a P/E/G ratio of 2.53 and a beta of 0.23.

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

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.