The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Consensus Rating of "Moderate Buy" from Analysts

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five 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 $35.88.

COCO has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Evercore ISI lifted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. 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 report on Wednesday, April 30th. Stephens reaffirmed an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th.

Insider Activity at Vita Coco

In related news, 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 value of $129,011,598.50. Following the completion of the transaction, the insider now owns 7,097,161 shares of the company's stock, valued at approximately $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $35.06, for a total transaction of $701,200.00. Following the sale, the chairman now directly owns 1,689,049 shares in the company, valued at $59,218,057.94. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,834,762 shares of company stock valued at $131,460,779. 32.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the stock. Coppell Advisory Solutions LLC boosted its position in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth approximately $66,000. CWM LLC boosted its holdings in shares of Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after buying an additional 367 shares during the last quarter. Militia Capital Partners LP grew its stake in shares of Vita Coco by 60.0% in the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock valued at $98,000 after buying an additional 1,200 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Vita Coco in the first quarter valued at $111,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Price Performance

Shares of COCO stock traded down $0.72 during trading hours on Friday, reaching $33.06. The company had a trading volume of 352,212 shares, compared to its average volume of 614,806. Vita Coco has a 1-year low of $23.56 and a 1-year high of $40.32. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 2.25 and a beta of 0.39. The company has a 50 day moving average of $33.34 and a 200 day moving average of $34.74.

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

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.