Vita Coco (NASDAQ:COCO) Shares Down 5.6% - What's Next?

Key Points

• Vita Coco's stock dropped 5.6% during mid-day trading on Monday, reaching a low of $34.69, and trading volume decreased by 33% from the average.
• Several analysts have adjusted their price targets for Vita Coco, with Evercore ISI setting a new target of $38.00 and Wells Fargo raising theirs to $45.00, indicating a generally positive outlook.
• Following a strong earnings report, where the company reported a $0.38 EPS versus the $0.36 consensus estimate, analysts predict an average earnings per share of 1.07 for the current year.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price dropped 5.6% during mid-day trading on Monday . The company traded as low as $34.69 and last traded at $34.67. Approximately 484,157 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 723,383 shares. The stock had previously closed at $36.73.

Analysts Set New Price Targets

COCO has been the topic of a number of research analyst reports. Evercore ISI raised their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their price target on 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 raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target on the stock in a research note on Wednesday, August 20th. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.38.

Vita Coco Trading Down 6.8%

The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. The firm has a 50 day moving average price of $35.92 and a two-hundred day moving average price of $34.64.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its 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. The business 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 company's revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $37.65, for a total transaction of $146,835.00. Following the sale, the director directly owned 631,666 shares in the company, valued at $23,782,224.90. The trade was a 0.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider owned 94,127 shares in the company, valued at $3,578,708.54. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,800 shares of company stock worth $1,384,226. 34.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently bought and sold shares of the business. TT International Asset Management LTD purchased a new stake in Vita Coco during the 1st quarter worth approximately $3,035,000. BNP Paribas Financial Markets acquired a new position in shares of Vita Coco in the 4th quarter worth approximately $1,806,000. GAMMA Investing LLC grew its position in shares of Vita Coco by 3,258.2% in the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock worth $859,000 after acquiring an additional 25,544 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Vita Coco during the 4th quarter valued at approximately $458,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in Vita Coco during the 1st quarter valued at approximately $1,609,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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