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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.8750.

Several research analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research note on Monday. Morgan Stanley lifted their target price on Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, Jefferies Financial Group boosted their price target on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 17th.

Vita Coco Trading Down 1.5%

Vita Coco stock opened at $53.79 on Friday. Vita Coco has a 12-month low of $25.79 and a 12-month high of $55.09. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 46.77, a P/E/G ratio of 1.82 and a beta of 0.37. The firm has a 50 day moving average of $44.32 and a 200 day moving average of $39.09.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $182.31 million during the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, analysts predict that Vita Coco will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In related news, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $40.77, for a total transaction of $122,310,000.00. Following the completion of the transaction, the insider owned 4,097,161 shares in the company, valued at approximately $167,041,253.97. This represents a 42.27% 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, Chairman Michael Kirban sold 30,000 shares of Vita Coco stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the completion of the sale, the chairman owned 1,599,049 shares in the company, valued at approximately $62,618,758.84. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,784,153 shares of company stock valued at $156,384,633. 32.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. CIBC Bancorp USA Inc. purchased a new position in Vita Coco during the 3rd quarter valued at approximately $1,510,000. Maven Securities LTD purchased a new stake in shares of Vita Coco during the 3rd quarter worth approximately $1,062,000. Wilmington Savings Fund Society FSB bought a new position in shares of Vita Coco during the 3rd quarter valued at approximately $62,815,000. Danske Bank A S purchased a new position in shares of Vita Coco in the third quarter valued at $776,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Vita Coco by 201.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 401,446 shares of the company’s stock worth $17,049,000 after purchasing an additional 268,338 shares during the last quarter. 88.49% of the stock is currently 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.