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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $31.00.

COCO has been the topic of several research reports. Bank of America lifted their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Jefferies Financial Group cut their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Vita Coco Stock Performance

Shares of COCO stock opened at $35.44 on Thursday. Vita Coco has a 52-week low of $19.41 and a 52-week high of $36.17. The company has a market capitalization of $2.01 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.22. The business’s fifty day moving average is $28.56 and its 200 day moving average is $27.37.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. On average, sell-side analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Activity

In other news, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at approximately $3,703,932. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 4,949 shares of company stock valued at $148,585. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after acquiring an additional 200,940 shares during the period. Raymond James & Associates acquired a new stake in Vita Coco during the 3rd quarter worth about $3,990,000. GSA Capital Partners LLP acquired a new stake in Vita Coco during the 1st quarter worth about $1,028,000. American Century Companies Inc. lifted its holdings in shares of Vita Coco by 42.2% in the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after buying an additional 23,761 shares during the period. Finally, Pier Capital LLC lifted its holdings in shares of Vita Coco by 37.7% in the 2nd quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock valued at $8,134,000 after buying an additional 79,957 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.