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

The Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $32.14.

Several research firms have recently commented on COCO. Craig Hallum upped their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Insider Activity

In other Vita Coco news, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total value of $74,560.00. Following the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the sale, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,173 shares of company stock worth $5,392,026 over the last three months. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. Wasatch Advisors LP boosted its holdings in Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after buying an additional 1,799,168 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after acquiring an additional 101,823 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after acquiring an additional 461,748 shares during the last quarter. State Street Corp raised its position in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after purchasing an additional 39,431 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock valued at $21,623,000 after purchasing an additional 156,033 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Down 0.2 %

Shares of NASDAQ COCO opened at $35.97 on Friday. The firm’s 50-day moving average price is $34.06 and its two-hundred day moving average price is $29.57. Vita Coco has a 52-week low of $19.41 and a 52-week high of $37.88. The stock has a market capitalization of $2.04 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.42 and a beta of 0.31.

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