The Vita Coco Company, Inc. (NASDAQ:COCO) Given Average Rating of “Moderate Buy” by Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.00.

Several research analysts recently commented on the company. Bank of America lifted their price target on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $28.00 in a research report on Friday, July 12th. Jefferies Financial Group dropped their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Craig Hallum lifted their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Vita Coco Stock Up 8.3 %

Shares of Vita Coco stock opened at $34.61 on Thursday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.46 and a beta of 0.22. The business has a 50-day moving average price of $28.16 and a 200-day moving average price of $27.23. Vita Coco has a twelve month low of $19.41 and a twelve month high of $35.78.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. On average, equities analysts expect that Vita Coco will post 1 EPS for the current fiscal year.

Insider Activity

In other news, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the sale, the chief operating officer now owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 4,949 shares of company stock valued at $148,585. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of COCO. Champlain Investment Partners LLC purchased a new stake in Vita Coco during the first quarter worth $18,210,000. Victory Capital Management Inc. lifted its holdings in Vita Coco by 1,310.1% during the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after buying an additional 403,192 shares during the period. Driehaus Capital Management LLC purchased a new stake in Vita Coco during the second quarter worth $9,859,000. Vanguard Group Inc. lifted its holdings in Vita Coco by 10.8% during the first 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 during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after buying an additional 200,940 shares during the period. Institutional investors own 88.49% of the company’s stock.

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.