Vita Coco Company, Inc. (NASDAQ:COCO) Receives $35.88 Consensus Target Price from Brokerages

Shares of Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.88.

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

Insider Buying and Selling at Vita Coco

In related news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction that occurred 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 directly owned 7,097,161 shares in the company, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Jane Prior sold 10,000 shares of Vita Coco stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $37.07, for a total transaction of $370,700.00. Following the transaction, the chief marketing officer owned 134,188 shares in the company, valued at $4,974,349.16. This represents a 6.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,842,662 shares of company stock worth $131,786,970. 34.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COCO. Coppell Advisory Solutions LLC boosted its stake in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares during the period. CWM LLC boosted its stake in Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the period. Militia Capital Partners LP grew its holdings in Vita Coco by 60.0% during the 1st 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. Caitong International Asset Management Co. Ltd bought a new stake in shares of Vita Coco during the first quarter valued at approximately $111,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after buying an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Vita Coco Price Performance

NASDAQ COCO traded down $0.80 during trading on Tuesday, hitting $36.76. 491,363 shares of the company's stock traded hands, compared to its average volume of 619,680. The firm has a market cap of $2.09 billion, a P/E ratio of 36.40, a PEG ratio of 2.03 and a beta of 0.37. The stock has a fifty day moving average of $35.31 and a two-hundred day moving average of $34.73. Vita Coco has a 12-month low of $23.56 and a 12-month high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly 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. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The business had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same period last year, the company earned $0.24 EPS. Vita Coco's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, analysts expect that Vita Coco will post 1.07 earnings per share for the current fiscal year.

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.