The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $29.71 Consensus PT from Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.71.

A number of equities research analysts have commented on COCO shares. The Goldman Sachs Group reduced their price target on Vita Coco from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. William Blair downgraded shares of Vita Coco from an "outperform" rating to a "market perform" rating in a research report on Monday, January 22nd. Piper Sandler boosted their price target on shares of Vita Coco from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. TheStreet cut shares of Vita Coco from a "b-" rating to a "c+" rating in a research report on Monday, January 22nd. Finally, Stephens raised shares of Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a research report on Thursday, February 29th.

Vita Coco Stock Performance

Shares of Vita Coco stock traded down $0.19 during trading on Friday, reaching $25.02. 531,620 shares of the company's stock were exchanged, compared to its average volume of 593,327. The company has a market cap of $1.42 billion, a P/E ratio of 31.28, a PEG ratio of 2.00 and a beta of 0.16. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29. The firm's 50-day moving average price is $23.70 and its 200 day moving average price is $25.24.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. As a group, equities research analysts predict that Vita Coco will post 0.92 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the sale, the chairman now directly owns 640,348 shares of the company's stock, valued at $16,040,717.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Michael Kirban sold 2,562 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the sale, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Liran sold 6,915 shares of Vita Coco stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,875.00. Following the completion of the sale, the director now directly owns 985,729 shares in the company, valued at approximately $24,643,225. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,353 shares of company stock valued at $1,309,536. Corporate insiders own 51.10% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Large investors have recently modified their holdings of the business. Syon Capital LLC purchased a new position in Vita Coco during the 4th quarter valued at about $113,931,000. FMR LLC increased its position in shares of Vita Coco by 72.3% in the third quarter. FMR LLC now owns 2,384,817 shares of the company's stock worth $62,101,000 after purchasing an additional 1,000,408 shares during the last quarter. abrdn plc purchased a new stake in Vita Coco during the fourth quarter valued at about $22,321,000. Ameriprise Financial Inc. increased its position in shares of Vita Coco by 9,796.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company's stock valued at $20,516,000 after purchasing an additional 779,912 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Vita Coco during the 1st quarter valued at about $5,746,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

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.