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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $56.3750.

A number of equities analysts recently issued reports on COCO shares. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Evercore reissued an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday. Piper Sandler boosted their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Finally, Jefferies Financial Group increased their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th.

Insider Activity at Vita Coco

In other news, CMO Jane Prior sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the completion of the sale, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $56.65, for a total value of $1,699,500.00. Following the completion of the sale, the director directly owned 572,579 shares of the company’s stock, valued at approximately $32,436,600.35. This trade represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 122,800 shares of company stock worth $6,698,956. Insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $62,815,000. Wellington Management Group LLP increased its holdings in shares of Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after acquiring an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in Vita Coco in the 4th quarter valued at $73,242,000. Westfield Capital Management Co. LP purchased a new stake in Vita Coco in the 3rd quarter valued at $45,135,000. Finally, Millennium Management LLC boosted its stake in Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $58.35 on Friday. The business has a 50-day moving average of $54.93 and a two-hundred day moving average of $48.48. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 49.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.37. Vita Coco has a 1 year low of $25.79 and a 1 year high of $59.88.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $117.80 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

About Vita Coco

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.