Vita Coco (NASDAQ:COCO) Upgraded to "Buy" at Wall Street Zen

Vita Coco (NASDAQ:COCO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

A number of other research firms have also issued reports on COCO. Wells Fargo & Company increased their target price on shares of Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Finally, Evercore ISI increased their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.88.

Vita Coco Price Performance

Shares of COCO stock traded down $0.57 during trading hours on Friday, hitting $35.02. The company had a trading volume of 605,234 shares, compared to its average volume of 623,885. The company's fifty day moving average is $32.59 and its 200 day moving average is $34.83. Vita Coco has a fifty-two week low of $23.56 and a fifty-two week high of $40.32. The stock has a market capitalization of $1.99 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Equities analysts forecast that Vita Coco will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In related news, Director John Zupo sold 8,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $34.77, for a total value of $278,160.00. Following the transaction, the director now directly owns 8,876 shares of the company's stock, valued at $308,618.52. This trade represents a 47.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the transaction, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,854,762 shares of company stock valued at $132,152,179. Insiders own 32.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its position in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after buying an additional 347 shares during the last quarter. US Bancorp DE grew its position in Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after purchasing an additional 364 shares during the last quarter. CWM LLC boosted its holdings in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after acquiring an additional 367 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock worth $1,343,000 after purchasing an additional 521 shares in the last quarter. Finally, Credit Agricole S A raised its holdings in Vita Coco by 1.5% during the first quarter. Credit Agricole S A now owns 36,140 shares of the company's stock worth $1,108,000 after purchasing an additional 521 shares in the last quarter. 88.49% of the stock is 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.