Vita Coco (NASDAQ:COCO) Upgraded by Wall Street Zen to Buy Rating

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 report released on Friday.

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

Vita Coco Price Performance

Shares of COCO traded down $0.08 during mid-day trading on Friday, reaching $34.92. 163,105 shares of the company's stock were exchanged, compared to its average volume of 739,358. Vita Coco has a 52-week low of $23.56 and a 52-week high of $40.32. The business's fifty day simple moving average is $32.69 and its 200-day simple moving average is $34.83. The stock has a market capitalization of $1.98 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

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

Insider Buying and Selling

In related news, Chairman Michael Kirban sold 6,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares of the company's stock, valued at $58,206,715. The trade was a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider now owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,854,762 shares of company stock worth $132,152,179. Corporate insiders own 32.30% of the company's stock.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in shares of Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock valued at $104,414,000 after buying an additional 427,871 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after purchasing an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Vita Coco by 77.3% in the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock valued at $31,544,000 after purchasing an additional 372,633 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Vita Coco in the 4th quarter worth approximately $10,715,000. Finally, Wellington Management Group LLP lifted its holdings in Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after buying an additional 258,521 shares in the last quarter. 88.49% of the stock is currently owned by 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.