Vita Coco (NASDAQ:COCO – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.
A number of other equities analysts have also issued reports on the company. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Citigroup restated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Morgan Stanley upped their price target on shares of Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Piper Sandler increased their price objective on shares of Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.71.
Read Our Latest Research Report on Vita Coco
Vita Coco Price Performance
Vita Coco (NASDAQ:COCO – Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts expect that Vita Coco will post 1.96 earnings per share for the current year.
Insider Transactions at Vita Coco
In other news, insider Es Charles Van sold 8,561 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $70.00, for a total value of $599,270.00. Following the completion of the sale, the insider directly owned 67,130 shares in the company, valued at approximately $4,699,100. The trade was a 11.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the sale, the chief operating officer directly owned 57,910 shares in the company, valued at approximately $4,343,250. This represents a 34.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 416,406 shares of company stock worth $32,692,409. 12.90% of the stock is currently owned by corporate insiders.
Institutional Trading of Vita Coco
Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares during the period. Quarry LP boosted its holdings in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after buying an additional 958 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the last quarter. Finally, CWM LLC grew its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after buying an additional 232 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.
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.
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