Equities Analysts Issue Forecasts for The Vita Coco Company, Inc.’s Q2 2024 Earnings (NASDAQ:COCO)

The Vita Coco Company, Inc. (NASDAQ:COCO) – Equities researchers at William Blair boosted their Q2 2024 EPS estimates for shares of Vita Coco in a research report issued on Wednesday, May 1st. William Blair analyst J. Andersen now anticipates that the company will earn $0.36 per share for the quarter, up from their prior forecast of $0.33. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Vita Coco’s current full-year earnings is $0.92 per share. William Blair also issued estimates for Vita Coco’s Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $1.25 EPS.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $112.00 million during the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a return on equity of 26.99% and a net margin of 10.93%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS.

Several other research firms also recently issued reports on COCO. Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Thursday, February 29th. TheStreet lowered Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. The Goldman Sachs Group lowered their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Finally, Piper Sandler raised their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.

Vita Coco Stock Up 0.2 %

NASDAQ COCO opened at $26.51 on Friday. The firm has a market cap of $1.50 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.09 and a beta of 0.18. The company’s 50 day moving average is $24.76 and its 200-day moving average is $25.02. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29.

Institutional Investors Weigh In On Vita Coco

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. purchased a new position in Vita Coco during the 3rd quarter valued at about $324,000. Raymond James Financial Services Advisors Inc. bought a new stake in Vita Coco during the 3rd quarter valued at about $337,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Vita Coco by 95.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after buying an additional 3,776 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Vita Coco by 31.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 94,610 shares of the company’s stock valued at $2,464,000 after acquiring an additional 22,549 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Vita Coco in the 3rd quarter worth approximately $724,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the sale, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vita Coco news, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now directly owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares in the company, valued at $16,418,639.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,353 shares of company stock worth $1,309,536. 51.10% of the stock is currently owned by insiders.

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.