Vita Coco Company, Inc. (NASDAQ:COCO) Receives $38.38 Consensus Target Price from Analysts

Key Points

• Vita Coco Company, Inc. (NASDAQ:COCO) has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $38.38.
• Wells Fargo raised its price target for Vita Coco from $43.00 to $45.00, while Piper Sandler increased its target to $39.00, both assigning an "overweight" rating.
• Vita Coco reported $0.38 earnings per share, exceeding analysts' estimates, and had a 17.1% year-over-year revenue increase to $168.76 million.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) has been given an average rating of "Moderate Buy" by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $38.3750.

Several equities research analysts have recently commented on COCO shares. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective for the company in a research note on Wednesday, August 20th. Finally, Morgan Stanley lifted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st.

Insider Activity at Vita Coco

In related news, insider Es Charles Van sold 20,000 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.04, for a total transaction of $840,800.00. Following the completion of the transaction, the insider directly owned 84,328 shares in the company, valued at $3,545,149.12. The trade was a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jonathan Burth sold 16,827 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.55, for a total transaction of $715,988.85. Following the transaction, the chief operating officer owned 76,127 shares of the company's stock, valued at $3,239,203.85. This represents a 18.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,351,133 shares of company stock valued at $136,449,456 over the last ninety days. Corporate insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Voya Investment Management LLC increased its holdings in Vita Coco by 3,376.9% in the first quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after buying an additional 570,087 shares in the last quarter. Marshall Wace LLP purchased a new position in Vita Coco in the second quarter valued at $9,627,000. Wellington Management Group LLP increased its holdings in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after buying an additional 258,521 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Vita Coco by 62.2% in the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock valued at $19,776,000 after buying an additional 247,339 shares in the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new position in Vita Coco in the second quarter valued at $5,054,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Vita Coco Trading Up 0.4%

Shares of NASDAQ:COCO traded up $0.17 on Friday, hitting $41.16. 367,574 shares of the company were exchanged, compared to its average volume of 776,679. Vita Coco has a 1-year low of $25.79 and a 1-year high of $42.81. The stock's 50 day moving average price is $36.53 and its 200 day moving average price is $34.81. The firm has a market capitalization of $2.34 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.10 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. On average, equities analysts predict 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.