Vita Coco Company, Inc. (NASDAQ:COCO) Stock Has Average Target Price of $74.12 According to Analysts

Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine 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 $74.12.

A number of analysts have weighed in on COCO shares. Piper Sandler boosted their price target on Vita Coco from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. William Blair reiterated a “market perform” rating on shares of Vita Coco in a research note on Thursday, October 22nd. Wells Fargo & Company lowered their price objective on Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Evercore reissued an “outperform” rating on shares of Vita Coco in a research note on Friday, October 23rd. Finally, Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th.

Vita Coco Stock Up 2.9%

Shares of Vita Coco stock opened at $56.37 on Monday. Vita Coco has a 12 month low of $39.69 and a 12 month high of $85.83. The stock has a market cap of $3.22 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.50 and a beta of 0.76. The business has a fifty day simple moving average of $57.80 and a 200-day simple moving average of $61.59.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. The business had revenue of $243.83 million during the quarter, compared to analysts’ expectations of $230.10 million. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts expect that Vita Coco will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of COCO. State of Wyoming raised its holdings in Vita Coco by 25.6% in the 3rd quarter. State of Wyoming now owns 4,127 shares of the company’s stock valued at $236,000 after acquiring an additional 841 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Vita Coco by 137.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 40,200 shares of the company’s stock worth $2,302,000 after acquiring an additional 23,300 shares during the period. BOKF NA lifted its position in shares of Vita Coco by 26.8% in the 3rd quarter. BOKF NA now owns 3,168 shares of the company’s stock worth $181,000 after acquiring an additional 669 shares during the period. Moody Aldrich Partners LLC grew its holdings in shares of Vita Coco by 31.3% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,990 shares of the company’s stock worth $4,351,000 after purchasing an additional 18,125 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Vita Coco during the 3rd quarter worth approximately $222,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.