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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.50.

Several brokerages recently commented on COCO. Jefferies Financial Group boosted their target price on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Wall Street Zen raised Vita Coco from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Piper Sandler raised their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th.

Insider Activity at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the transaction, the director owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Liran sold 33,862 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $50.27, for a total value of $1,702,242.74. Following the sale, the director owned 602,579 shares of the company’s stock, valued at $30,291,646.33. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 117,043 shares of company stock worth $6,222,959. 34.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC boosted its stake in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the period. Quarry LP grew its holdings in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after acquiring an additional 758 shares in the last quarter. MAI Capital Management acquired a new position in shares of Vita Coco in the second quarter worth $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Down 0.1%

Shares of COCO opened at $56.52 on Wednesday. The firm has a market capitalization of $3.22 billion, a PE ratio of 49.15, a P/E/G ratio of 1.60 and a beta of 0.38. The firm has a 50-day moving average price of $54.44 and a 200 day moving average price of $45.91. Vita Coco has a 52-week low of $25.79 and a 52-week high of $59.88.

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.