Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $77.7143.

Several research firms have recently weighed in on COCO. Weiss Ratings restated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $90.00 target price on Vita Coco and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th.

Insider Activity

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the sale, the director directly owned 476,421 shares of the company’s stock, valued at $37,703,957.94. This represents a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 343,900 shares of company stock valued at $27,403,488 over the last three months. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of COCO. BlackRock Inc. purchased a new stake in shares of Vita Coco during the 2nd quarter worth $463,654,000. California State Teachers Retirement System increased its holdings in shares of Vita Coco by 6,377.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,710,388 shares of the company’s stock valued at $245,405,000 after purchasing an additional 3,653,104 shares in the last quarter. Wasatch Advisors LP increased 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. Vanguard Group Inc. lifted its stake in shares of Vita Coco by 8.2% in the fourth 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 period. Finally, Wellington Management Group LLP boosted its holdings in Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after buying an additional 439,958 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Up 0.1%

Shares of NASDAQ:COCO opened at $55.13 on Friday. The firm has a 50 day simple moving average of $66.32 and a 200-day simple moving average of $64.14. Vita Coco has a twelve month low of $37.27 and a twelve month high of $85.83. The company has a market capitalization of $3.16 billion, a PE ratio of 30.46, a P/E/G ratio of 1.04 and a beta of 0.75.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The firm had revenue of $216.15 million during the quarter, compared to analysts’ expectations of $210.64 million. During the same period in the previous year, the company earned $0.38 earnings per share. Vita Coco’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco will post 1.96 EPS for the current fiscal year.

Vita Coco Company Profile

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.