Vita Coco (NASDAQ:COCO) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Vita Coco's stock has been reaffirmed with a "buy (B-)" rating by Weiss Ratings, highlighting institutional confidence in the company's performance.
• Several analysts have raised their price targets for Vita Coco, with Goldman Sachs increasing it from $41.00 to $47.00, reflecting a bullish outlook for the stock.
• Vita Coco reported strong quarterly earnings, exceeding estimates with $0.38 earnings per share and revenues of $168.76 million, indicating solid growth compared to the previous year.

Vita Coco (NASDAQ:COCO - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a research note on Wednesday, August 20th. The Goldman Sachs Group raised their price target on Vita Coco from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Bank of America raised their target price on Vita Coco from $40.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Finally, Morgan Stanley lifted their price target on shares of Vita Coco from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Hold" and an average target price of $40.63.

Vita Coco Price Performance

Shares of COCO stock traded down $1.18 during trading hours on Friday, reaching $39.67. 496,988 shares of the company were exchanged, compared to its average volume of 773,239. Vita Coco has a fifty-two week low of $25.79 and a fifty-two week high of $43.65. The stock's fifty day moving average is $39.19 and its two-hundred day moving average is $36.22. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 37.08, a P/E/G ratio of 2.65 and a beta of 0.40.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Vita Coco will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 3,173 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $42.50, for a total transaction of $134,852.50. Following the sale, the chief operating officer directly owned 76,127 shares of the company's stock, valued at $3,235,397.50. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Martin Roper sold 1,835 shares of the company's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $42.74, for a total value of $78,427.90. Following the sale, the chief executive officer owned 287,062 shares in the company, valued at $12,269,029.88. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,463,800 shares of company stock valued at $141,219,233 in the last three months. 32.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in COCO. MAI Capital Management bought a new stake in Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC raised its position in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after acquiring an additional 1,344 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Vita Coco during the second quarter worth $50,000. Mather Group LLC. bought a new stake in shares of Vita Coco in the 3rd quarter valued at about $54,000. Finally, CWM LLC raised its holdings in shares of Vita Coco by 14.7% in the 1st 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 period. Institutional investors own 88.49% of the company's stock.

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.

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