Vita Coco (NASDAQ:COCO) Stock Rating Lowered by Zacks Research

Vita Coco (NASDAQ:COCO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

COCO has been the topic of a number of other reports. Needham & Company LLC assumed coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Bank of America boosted their price target on shares of Vita Coco from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target for the company in a research note on Wednesday, August 20th. The Goldman Sachs Group boosted their price target on shares of Vita Coco from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Morgan Stanley boosted their price target on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.63.

Vita Coco Trading Down 2.3%

Shares of COCO stock opened at $41.80 on Thursday. Vita Coco has a 1 year low of $25.79 and a 1 year high of $43.65. The firm’s 50 day moving average is $37.68 and its 200-day moving average is $35.46. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 2.77 and a beta of 0.40.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same period in the prior year, the business earned $0.32 earnings per share. Vita Coco’s quarterly revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 3,173 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $42.50, for a total value of $134,852.50. Following the completion of the sale, the chief operating officer owned 76,127 shares of the company’s stock, valued at approximately $3,235,397.50. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Roper sold 1,835 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total transaction of $78,427.90. Following the completion of the sale, the chief executive officer directly owned 287,062 shares of the company’s stock, valued at $12,269,029.88. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,463,800 shares of company stock valued at $141,214,319 in the last ninety days. Insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently bought and sold shares of COCO. MAI Capital Management bought a new stake in Vita Coco in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its stake in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Vita Coco in the second quarter valued at approximately $50,000. CWM LLC increased its position in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after acquiring an additional 367 shares in the last quarter. Finally, Militia Capital Partners LP increased its position in shares of Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock worth $98,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors 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.