Vita Coco Company, Inc. (NASDAQ:COCO) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Vita Coco has a consensus “Moderate Buy” rating from 10 analysts, with eight buys and two holds; the average 12-month price target is $76.86.
• Institutional ownership is substantial at 88.49%, with major investors including BlackRock, Wasatch Advisors, and Bank of America recently increasing or initiating positions.
• The company reported quarterly EPS of $0.82 versus the $0.56 estimate, while revenue rose 28.1% year over year to $216.15 million; shares opened at $57.26, well below the average analyst target.

Shares of Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $76.86.

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Vita Coco from $89.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday, September 10th. Zacks Research cut Vita Coco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the company a "buy" rating in a research note on Thursday, July 23rd. Weiss Ratings cut Vita Coco from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 16th. Finally, Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Vita Coco in the 2nd quarter valued at approximately $463,654,000. Wasatch Advisors LP grew its holdings in shares of Vita Coco by 80.3% during 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 during the last quarter. Westfield Capital Management Co. LP increased its position in Vita Coco by 1.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,073,610 shares of the company's stock worth $56,912,000 after purchasing an additional 10,849 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Vita Coco by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company's stock worth $51,422,000 after purchasing an additional 61,950 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Vita Coco in the 2nd quarter valued at approximately $56,722,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Stock Up 1.3%

COCO stock opened at $57.26 on Thursday. Vita Coco has a 52 week low of $38.07 and a 52 week high of $85.83. The business has a 50-day simple moving average of $60.90 and a 200 day simple moving average of $64.36. The company has a market cap of $3.29 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.75.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $210.64 million. During the same period in the prior year, the company posted $0.38 earnings per share. The business's revenue for the quarter was up 28.1% on a year-over-year basis. On average, analysts anticipate that Vita Coco will post 1.95 EPS for the current fiscal year.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on better-for-you hydration products. Its flagship Vita Coco brand offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional hydration products, such as protein and electrolyte beverages, through its broader brand portfolio.

Founded in 2004 by Michael Kirban and Ira Liran, Vita Coco helped popularize coconut water in the United States. The company sells its products through grocery stores, mass retailers, convenience stores, club stores, e-commerce platforms and other retail channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.