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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $70.4286.

Several equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $70.00 target price on shares of Vita Coco in a report on Wednesday, April 29th. Jefferies Financial Group lifted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Evercore reiterated an “outperform” rating and set a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th.

Vita Coco Stock Performance

COCO stock opened at $77.38 on Friday. The firm has a 50 day moving average price of $59.66 and a 200-day moving average price of $55.63. Vita Coco has a 52-week low of $31.79 and a 52-week high of $79.70. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 1.89 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue was up 37.4% on a year-over-year basis. As a group, sell-side analysts forecast that Vita Coco will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In related news, CEO Martin Roper sold 20,544 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $59.35, for a total transaction of $1,219,286.40. Following the completion of the sale, the chief executive officer owned 298,484 shares of the company’s stock, valued at $17,715,025.40. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Michael Kirban sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the sale, the chairman directly owned 515,681 shares of the company’s stock, valued at $35,066,308. This trade represents a 8.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 477,261 shares of company stock valued at $28,097,055 over the last ninety days. Corporate insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently made changes to their positions in COCO. GAMMA Investing LLC grew its position in Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares during the period. CWM LLC boosted its stake in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC boosted its stake in shares of Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after acquiring an additional 236 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after acquiring an additional 298 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Vita Coco by 4.1% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock worth $661,000 after acquiring an additional 489 shares during the last quarter. Institutional investors 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.