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

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.88.

A number of research analysts recently commented on the company. Evercore ISI increased their target price on 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 cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Wells Fargo & Company raised their price objective on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Stephens restated an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th.

Insiders Place Their Bets

In related news, Chairman Michael Kirban sold 14,000 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $37.03, for a total value of $518,420.00. Following the transaction, the chairman directly owned 1,629,049 shares of the company's stock, valued at approximately $60,323,684.47. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the company'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 value of $129,011,598.50. Following the completion of the transaction, the insider directly owned 7,097,161 shares in the company, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,842,662 shares of company stock valued at $131,786,970 over the last ninety days. 32.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its holdings in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares during the last quarter. US Bancorp DE raised its holdings in shares of Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after purchasing an additional 364 shares during the last quarter. CWM LLC raised its holdings in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after purchasing an additional 367 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock valued at $1,343,000 after purchasing an additional 521 shares during the last quarter. Finally, Credit Agricole S A raised its holdings in shares of Vita Coco by 1.5% during the first quarter. Credit Agricole S A now owns 36,140 shares of the company's stock valued at $1,108,000 after purchasing an additional 521 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.13 during trading on Tuesday, hitting $37.06. 398,332 shares of the company were exchanged, compared to its average volume of 616,857. Vita Coco has a 52-week low of $23.56 and a 52-week high of $40.32. The company has a market cap of $2.10 billion, a PE ratio of 36.69, a P/E/G ratio of 1.94 and a beta of 0.37. The stock has a 50 day moving average of $35.44 and a 200 day moving average of $34.74.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm's revenue was up 17.2% compared to the same quarter last year. Sell-side analysts forecast that Vita Coco will post 1.07 EPS 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.