Vita Coco Company, Inc. (NASDAQ:COCO) Receives $38.29 Consensus Price Target from Analysts

Key Points

• Vita Coco Company, Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $38.29.
• The company's recent earnings report showed earnings per share of $0.38, exceeding analysts' expectations, with revenue up 17.1% year-over-year at $168.76 million.
• Institutional investors hold 88.49% of Vita Coco's stock, indicating strong institutional support and confidence in the company.

Shares of Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.2857.

Several brokerages have commented on COCO. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Morgan Stanley lifted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday. Wells Fargo & Company lifted their target price on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI lifted their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th.

Vita Coco Stock Down 2.6%

Shares of NASDAQ COCO traded down $0.91 during midday trading on Friday, reaching $33.85. 1,077,220 shares of the stock were exchanged, compared to its average volume of 737,448. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.84 and a beta of 0.37. The firm has a 50-day simple moving average of $36.22 and a two-hundred day simple moving average of $35.01. Vita Coco has a twelve month low of $24.09 and a twelve month high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating 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 company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same quarter last year, the business earned $0.32 earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. Research analysts expect that Vita Coco will post 1.07 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the transaction, the insider directly owned 94,127 shares in the company, valued at $3,578,708.54. The trade was a 9.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Jane Prior sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total transaction of $370,700.00. Following the completion of the transaction, the chief marketing officer owned 134,188 shares in the company, valued at $4,974,349.16. The trade was a 6.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,846,562 shares of company stock valued at $131,933,805 in the last three months. Company insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC lifted its stake in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Vita Coco during the 2nd quarter worth about $50,000. CWM LLC lifted its position in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares in the last quarter. Militia Capital Partners LP lifted its position in shares of Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock worth $98,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Vita Coco during the 1st quarter worth approximately $111,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.