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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $70.4286.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Evercore reiterated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Finally, Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st.

Insider Activity

In related news, COO Jonathan Burth sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at $3,691,762.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 25,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares of the company’s stock, valued at approximately $14,924,200. This trade represents a 7.73% 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. In the last quarter, insiders have sold 707,306 shares of company stock worth $49,251,613. 34.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP raised its position in Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Vanguard Group Inc. raised its position in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after buying an additional 237,510 shares during the last quarter. Wellington Management Group LLP raised its position in Vita Coco by 22.1% in the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after buying an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after buying an additional 224,305 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Vita Coco in the 3rd quarter worth about $62,815,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Down 1.4%

Shares of COCO stock opened at $82.88 on Tuesday. Vita Coco has a 12 month low of $31.79 and a 12 month high of $85.83. The stock has a market cap of $4.73 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74. The company’s fifty day moving average price is $69.11 and its 200-day moving average price is $59.26.

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

About Vita Coco

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.