Wall Street Zen Downgrades Vita Coco (NASDAQ:COCO) to Sell

Vita Coco (NASDAQ:COCO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently weighed in on COCO. The Goldman Sachs Group boosted their price target on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Wells Fargo & Company raised their price target on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Piper Sandler boosted their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Vita Coco Price Performance

Shares of COCO opened at $53.96 on Friday. Vita Coco has a 1 year low of $25.79 and a 1 year high of $59.88. The stock has a 50 day simple moving average of $54.29 and a two-hundred day simple moving average of $46.32. The firm has a market cap of $3.08 billion, a P/E ratio of 45.73, a P/E/G ratio of 1.72 and a beta of 0.38.

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

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the sale, the director owned 608,266 shares in the company, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 572,579 shares in the company, valued at $32,436,600.35. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,800 shares of company stock valued at $3,244,306 in the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC raised its stake in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 675 shares in the last quarter. Quarry LP lifted its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares during the period. MAI Capital Management bought a new stake in Vita Coco during the 2nd quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the period. 88.49% of the stock is currently owned by institutional investors.

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.