Vita Coco (COCO) to Release Quarterly Earnings on Wednesday

Vita Coco (NASDAQ:COCO) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Vita Coco to post earnings of $0.19 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Stock Performance

NASDAQ:COCO opened at $23.61 on Wednesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 29.51, a PEG ratio of 1.87 and a beta of 0.16. The company has a 50 day moving average price of $24.18 and a 200 day moving average price of $25.08. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $33.29.

Analyst Upgrades and Downgrades

Several brokerages have commented on COCO. Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Thursday, February 29th. TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. The Goldman Sachs Group lowered their target price on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Finally, Piper Sandler boosted their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.71.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total transaction of $350,229.96. Following the completion of the transaction, the director now directly owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the sale, the chairman now directly owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 52,353 shares of company stock valued at $1,309,536. 51.10% of the stock is currently owned by corporate insiders.

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.