Vita Coco (NASDAQ:COCO) Stock Rating Upgraded by Wall Street Zen

Vita Coco (NASDAQ:COCO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

COCO has been the topic of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday. The Goldman Sachs Group raised their price target on shares of Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Jefferies Financial Group increased their price objective on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley raised their target price on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $51.88.

Vita Coco Stock Up 1.9%

Shares of COCO opened at $53.48 on Friday. The stock has a market cap of $3.05 billion, a PE ratio of 46.50, a PEG ratio of 1.75 and a beta of 0.37. Vita Coco has a 12-month low of $25.79 and a 12-month high of $55.29. The business has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $40.42.

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

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 22,334 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $45.94, for a total transaction of $1,026,023.96. Following the completion of the sale, the chief operating officer owned 76,127 shares of the company’s stock, valued at $3,497,274.38. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Es Charles Van sold 20,000 shares of Vita Coco stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider owned 84,328 shares of the company’s stock, valued at approximately $4,216,400. The trade was a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 481,820 shares of company stock valued at $21,813,030. Insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

Large investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its stake in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 675 shares in the last quarter. Quarry LP grew its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the period. MAI Capital Management acquired a new stake in Vita Coco in the second quarter worth $33,000. EverSource Wealth Advisors LLC increased its stake in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Vita Coco during the second quarter valued at about $50,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.