Vita Coco Company, Inc. (NASDAQ:COCO) Receives Consensus Rating of “Moderate Buy” from Analysts

Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $70.4286.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citigroup restated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Wells Fargo & Company upped their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Evercore restated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a research report on Thursday, March 12th.

Read Our Latest Analysis on COCO

Insider Activity

In related news, COO Jonathan Burth sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer owned 57,910 shares in the company, valued at $4,343,250. This represents a 34.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 74,232 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the completion of the sale, the director owned 309,871 shares of the company’s stock, valued at approximately $24,879,542.59. This represents a 19.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 707,306 shares of company stock worth $49,251,613 in the last 90 days. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of large investors have recently made changes to their positions in COCO. Wasatch Advisors LP increased its holdings in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. lifted its stake in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after purchasing an additional 237,510 shares during the last quarter. Wellington Management Group LLP lifted its stake in Vita Coco by 22.1% in the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after purchasing an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after purchasing an additional 224,305 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Vita Coco in the 3rd quarter valued at about $62,815,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Down 1.6%

COCO stock opened at $72.53 on Tuesday. The business’s fifty day moving average is $72.05 and its 200-day moving average is $60.13. The company has a market cap of $4.14 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.74. Vita Coco has a twelve month low of $31.79 and a twelve month high of $85.83.

Vita Coco (NASDAQ:COCOGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. Research analysts anticipate that Vita Coco will post 1.76 earnings per share for the current fiscal year.

About Vita Coco

(Get Free Report)

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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Analyst Recommendations for Vita Coco (NASDAQ:COCO)

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