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

Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $53.50.

A number of research firms have commented on COCO. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Wells Fargo & Company increased their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Morgan Stanley lifted their price objective on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. The Goldman Sachs Group boosted their target price on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Vita Coco from a “hold” rating to a “buy” rating in a report on Saturday, December 20th.

Insider Activity at Vita Coco

In related news, CEO Martin Roper sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $46.10, for a total value of $691,500.00. Following the sale, the chief executive officer owned 216,131 shares in the company, valued at approximately $9,963,639.10. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $1,000,000.00. Following the completion of the sale, the insider directly owned 84,328 shares of the company’s stock, valued at approximately $4,216,400. This trade represents a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 349,153 shares of company stock valued at $16,355,806 over the last quarter. 32.30% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Vita Coco by 3.5% in the third quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock valued at $123,676,000 after acquiring an additional 97,233 shares during the period. Wasatch Advisors LP increased its position in shares of Vita Coco by 3.3% during the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock valued at $115,917,000 after purchasing an additional 86,541 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Vita Coco by 12.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after purchasing an additional 224,305 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Vita Coco in the third quarter worth approximately $62,815,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $52.30 on Friday. The company has a 50-day simple moving average of $52.85 and a two-hundred day simple moving average of $43.59. The stock has a market capitalization of $2.98 billion, a PE ratio of 45.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.38. Vita Coco has a 52-week low of $25.79 and a 52-week high of $56.46.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. As a group, equities research analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

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.