Vita Coco (COCO) Scheduled to Post Quarterly Earnings on Wednesday

Vita Coco (NASDAQ:COCO - Get Free Report) will issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Parties that are interested in participating in the company's conference call can do so using this link.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Trading Up 2.5 %

Shares of NASDAQ:COCO traded up $0.58 during mid-day trading on Wednesday, reaching $24.19. The stock had a trading volume of 354,870 shares, compared to its average volume of 702,493. The firm has a market cap of $1.38 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.84 and a beta of 0.16. The firm has a 50 day simple moving average of $24.18 and a two-hundred day simple moving average of $25.08. Vita Coco has a twelve month low of $19.41 and a twelve month high of $33.29.

Insider Activity

In other news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the completion of the sale, the director now owns 992,644 shares in the company, valued at $24,855,805.76. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock worth $1,309,536 over the last ninety days. Insiders own 51.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. The Goldman Sachs Group cut their price target on shares of Vita Coco from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. TheStreet downgraded shares of Vita Coco from a "b-" rating to a "c+" rating in a research report on Monday, January 22nd. William Blair downgraded shares of Vita Coco from an "outperform" rating to a "market perform" rating in a research report on Monday, January 22nd. Finally, Stephens upgraded shares of Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 target price on the stock in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.71.

About Vita Coco

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.