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

The Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of research analysts have weighed in on the company. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $28.00 in a research report on Friday, July 12th. Wells Fargo & Company boosted their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group lowered their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price target on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th.

Vita Coco Stock Up 2.0 %

Shares of COCO stock opened at $27.40 on Wednesday. Vita Coco has a 12 month low of $19.41 and a 12 month high of $32.12. The company’s fifty day simple moving average is $25.99 and its 200-day simple moving average is $26.17. The firm has a market cap of $1.55 billion, a PE ratio of 29.78, a P/E/G ratio of 2.30 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, equities analysts predict that Vita Coco will post 0.95 earnings per share for the current fiscal year.

Insider Transactions at Vita Coco

In other news, insider Es Charles Van sold 4,372 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the transaction, the insider now directly owns 97,668 shares in the company, valued at approximately $2,930,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COCO. Syon Capital LLC bought a new stake in Vita Coco in the 4th quarter valued at $113,931,000. Champlain Investment Partners LLC bought a new stake in Vita Coco in the 1st quarter valued at $18,210,000. GW&K Investment Management LLC bought a new stake in Vita Coco in the 4th quarter valued at $13,358,000. Victory Capital Management Inc. boosted its stake in Vita Coco by 1,310.1% in the 2nd quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock valued at $12,086,000 after purchasing an additional 403,192 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Vita Coco in the 2nd quarter valued at $9,859,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Company Profile

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.