Vita Coco Company, Inc. (NASDAQ:COCO) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Vita Coco has a consensus analyst rating of “Moderate Buy” from 11 covering firms, with an average 1-year price target of about $70.43.
• The company recently reported strong quarterly results, posting EPS of $0.50 versus estimates of $0.34 and revenue of $179.77 million, up 37.4% year over year.
• There has been notable insider selling, including trades by the COO and a director, while institutional investors still own a large majority of the stock at 88.49%.

Shares of Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $70.4286.

Several research firms have issued reports on COCO. Evercore restated an "outperform" rating and set a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. Weiss Ratings raised shares of Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Morgan Stanley set a $65.00 price target on Vita Coco in a report on Thursday, April 30th. The Goldman Sachs Group restated a "buy" rating and set a $71.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the sale, the chief operating officer owned 57,910 shares in the company, valued at approximately $4,343,250. This trade represents a 34.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $77.47, for a total value of $302,133.00. Following the completion of the sale, the director owned 582,666 shares of the company's stock, valued at approximately $45,139,135.02. This trade represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 477,261 shares of company stock worth $28,097,055. Insiders own 32.30% of the company's stock.

Institutional Trading of Vita Coco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westfield Capital Management Co. LP purchased a new stake in Vita Coco in the third quarter worth about $45,135,000. New York State Common Retirement Fund lifted its holdings in Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after buying an additional 47,632 shares during the period. Vanguard Group Inc. lifted its holdings in Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company's stock worth $166,959,000 after buying an additional 237,510 shares during the period. Night Squared LP purchased a new stake in Vita Coco in the third quarter worth about $5,193,000. Finally, American Century Companies Inc. lifted its holdings in Vita Coco by 648.0% in the third quarter. American Century Companies Inc. now owns 647,257 shares of the company's stock worth $27,489,000 after buying an additional 560,729 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Stock Down 1.6%

NASDAQ COCO opened at $77.38 on Friday. The company has a 50-day simple moving average of $59.66 and a two-hundred day simple moving average of $55.63. Vita Coco has a 12-month low of $31.79 and a 12-month high of $79.70. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 1.89 and a beta of 0.72.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company's revenue was up 37.4% on a year-over-year basis. Equities analysts expect that Vita Coco will post 1.76 earnings per share for the current fiscal year.

About Vita Coco

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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