Vita Coco (NASDAQ:COCO) Raised to Hold at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Morgan Stanley raised their price objective on Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Piper Sandler lifted their target price on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Vita Coco Stock Down 2.0%

COCO opened at $52.88 on Friday. Vita Coco has a twelve month low of $25.79 and a twelve month high of $61.39. The company has a 50-day moving average price of $55.17 and a 200 day moving average price of $49.12. The company has a market cap of $3.02 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The firm had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

Insider Transactions at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $56.92, for a total value of $221,988.00. Following the completion of the sale, the director owned 590,466 shares of the company’s stock, valued at approximately $33,609,324.72. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Burth sold 60,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $58.65, for a total value of $3,519,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at approximately $3,396,421.50. The trade was a 50.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 190,800 shares of company stock valued at $10,704,346. 32.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COCO. Caitong International Asset Management Co. Ltd boosted its position in shares of Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after acquiring an additional 501 shares during the last quarter. Clearstead Advisors LLC increased its position in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP raised its stake in Vita Coco by 12,633.3% during 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 purchased a new position in Vita Coco during the second quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Vita Coco by 5,376.0% in the 2nd 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 during the last quarter. 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.