Vita Coco (NASDAQ:COCO) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Vita Coco (NASDAQ:COCO) from a buy rating to a hold rating in a research report report published on Saturday.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price objective on Vita Coco from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Evercore ISI lifted their price objective on Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Stephens reaffirmed an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average price target of $35.88.

Vita Coco Price Performance

NASDAQ COCO opened at $33.82 on Friday. The stock has a market capitalization of $1.92 billion, a PE ratio of 34.16, a PEG ratio of 2.25 and a beta of 0.39. Vita Coco has a 1 year low of $23.56 and a 1 year high of $40.32. The business’s 50-day moving average is $33.01 and its 200 day moving average is $34.77.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $130.92 million for the quarter, compared to analysts’ expectations of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. Vita Coco’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. As a group, equities research analysts anticipate that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of Vita Coco stock in a transaction on Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the transaction, the insider now owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction 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 transaction, the chairman now owns 1,689,049 shares of the company’s stock, 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 3,854,762 shares of company stock worth $132,152,179. 32.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently added to or reduced their stakes in COCO. Wasatch Advisors LP raised its holdings in Vita Coco by 17.8% in the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock worth $104,414,000 after acquiring an additional 427,871 shares during the last quarter. Bank of America Corp DE raised its holdings in Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock worth $18,902,000 after acquiring an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after acquiring an additional 372,633 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Vita Coco in the 4th quarter worth approximately $10,715,000. Finally, Wellington Management Group LLP raised its holdings in Vita Coco by 102.2% in the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock worth $15,676,000 after acquiring an additional 258,521 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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.