Analysts Set The Vita Coco Company, Inc. (NASDAQ:COCO) Target Price at $35.88

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.88.

Several equities analysts recently issued reports on COCO shares. Evercore ISI upped their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Finally, Wells Fargo & Company increased their price objective on shares of Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, May 30th.

Vita Coco Stock Performance

Vita Coco stock traded up $0.31 during midday trading on Friday, reaching $33.37. 392,750 shares of the company were exchanged, compared to its average volume of 613,175. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 2.25 and a beta of 0.39. The firm's 50-day simple moving average is $33.55 and its 200-day simple moving average is $34.69. 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 posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, analysts forecast that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Michael Kirban sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the transaction, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm'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 transaction, the insider now directly owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. This represents a 34.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,814,762 shares of company stock valued at $130,759,579. 32.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in 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 during the period. Vanguard Group Inc. raised its holdings in shares of Vita Coco by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock valued at $80,987,000 after buying an additional 53,172 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Vita Coco by 14.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock valued at $55,460,000 after buying an additional 185,692 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Vita Coco by 15.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after buying an additional 193,420 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Vita Coco by 6.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after buying an additional 64,011 shares during the period. 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.