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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.38.

Several brokerages have recently weighed in on COCO. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Evercore ISI upped their target price on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a research note on Thursday, March 27th.

Vita Coco Price Performance

NASDAQ:COCO opened at $35.62 on Monday. The business’s 50-day moving average is $32.32 and its two-hundred day moving average is $34.72. The firm has a market capitalization of $2.02 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. Vita Coco has a 12 month low of $23.56 and a 12 month high of $40.32.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company’s revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Vita Coco will post 1.07 EPS for the current year.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 1,723 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total transaction of $68,954.46. Following the sale, the director now owns 812,579 shares in the company, valued at $32,519,411.58. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the sale, the chairman now owns 1,689,049 shares in the company, valued at $59,218,057.94. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,832,485 shares of company stock valued at $131,288,213. Insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after buying an additional 46,385 shares in the last quarter. Pier Capital LLC raised its stake in Vita Coco by 39.6% during the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock valued at $7,405,000 after buying an additional 56,879 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $7,985,000. Renaissance Technologies LLC acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $458,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $399,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.