The Vita Coco Company, Inc. (NASDAQ:COCO) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.38.

COCO has been the topic of a number of recent research reports. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Evercore ISI raised their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Stephens reissued an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th.

Vita Coco Trading Down 1.5%

Shares of COCO traded down $0.56 during trading hours on Monday, hitting $36.28. 405,430 shares of the stock traded hands, compared to its average volume of 624,273. The business has a fifty day moving average of $32.44 and a 200-day moving average of $34.78. The firm has a market capitalization of $2.06 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. Vita Coco has a 1-year low of $23.56 and a 1-year high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million during the quarter, compared to analysts' expectations of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities research analysts expect that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, Director John Zupo sold 8,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $34.77, for a total transaction of $278,160.00. Following the completion of the sale, the director now owns 8,876 shares of the company's stock, valued at $308,618.52. This represents a 47.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,830,762 shares of company stock worth $131,219,259 in the last quarter. Corporate insiders own 32.30% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Bank of America Corp DE raised its position in Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after buying an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock valued at $31,544,000 after acquiring an additional 372,633 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Vita Coco during the 4th quarter worth approximately $10,715,000. Finally, Wellington Management Group LLP boosted its position in Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after acquiring an additional 258,521 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

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.