Analysts Set Vita Coco Company, Inc. (NASDAQ:COCO) PT at $71.00

Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $71.00.

COCO has been the subject of several recent research reports. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Jefferies Financial Group upped their target price on Vita Coco from $63.00 to $78.00 and gave the stock 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, May 26th. Finally, Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 50,000 shares of Vita Coco stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the completion of the sale, the chairman owned 515,681 shares of the company’s stock, valued at approximately $35,066,308. The trade was a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the completion of the transaction, the director owned 476,421 shares in the company, valued at approximately $37,703,957.94. This trade represents a 16.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 596,950 shares of company stock worth $43,711,695. 12.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares in the last quarter. CWM LLC boosted its holdings in Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after buying an additional 232 shares in the last quarter. Mariner LLC grew its position in Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after buying an additional 236 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in Vita Coco by 4.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after buying an additional 489 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 501 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Stock Down 1.9%

COCO stock opened at $74.45 on Friday. Vita Coco has a twelve month low of $31.79 and a twelve month high of $85.83. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 1.81 and a beta of 0.77. The firm’s fifty day simple moving average is $75.72 and its two-hundred day simple moving average is $62.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. The business had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, equities research analysts expect that Vita Coco will post 1.77 EPS for the current 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.