Vita Coco Company, Inc. (NASDAQ:COCO) Stock Has Consensus Price Target of $76.86

Shares of Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $76.00.

Several research firms have issued reports on COCO. The Goldman Sachs Group set a $90.00 price objective on shares of Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Weiss Ratings lowered Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Morgan Stanley increased their price objective on Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th.

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Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in Vita Coco during the 2nd quarter worth about $17,119,000. Bank of America Corp DE bought a new stake in shares of Vita Coco in the 2nd quarter valued at about $56,722,000. Wasatch Advisors LP raised its holdings in shares of Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Vita Coco in the 2nd quarter worth approximately $463,654,000. Finally, Moran Wealth Management LLC lifted its position in shares of Vita Coco by 219.0% in the 1st quarter. Moran Wealth Management LLC now owns 72,167 shares of the company’s stock worth $3,458,000 after purchasing an additional 49,546 shares during the period. Institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Down 1.8%

Shares of COCO opened at $55.97 on Thursday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.06 and a beta of 0.76. Vita Coco has a 12-month low of $38.07 and a 12-month high of $85.83. The firm has a fifty day moving average price of $60.45 and a 200-day moving average price of $64.29.

Vita Coco (NASDAQ:COCO – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $216.15 million for the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. Analysts predict that Vita Coco will post 1.95 earnings per share for the current year.

About Vita Coco

(Get Free Report)

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional and hydration-focused products under brands such as PWR LIFT and Ever & Ever.

Founded in 2004, Vita Coco helped expand the mainstream market for packaged coconut water. The company sells its products through grocery stores, mass retailers, convenience stores, clubs, e-commerce platforms, and food-service channels.

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