Vita Coco (NASDAQ:COCO) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of Vita Coco (NASDAQ:COCO - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Other analysts have also issued research reports about the company. Wells Fargo & Company boosted their price target on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Evercore ISI upped their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Stephens reissued an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.88.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.15 during trading on Friday, hitting $34.25. 348,379 shares of the stock were exchanged, compared to its average volume of 620,300. Vita Coco has a 1-year low of $23.56 and a 1-year high of $40.32. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39. The company's fifty day simple moving average is $32.94 and its 200-day simple moving average is $34.82.

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

Insider Transactions at Vita Coco

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

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP raised its stake in 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 during the period. Vanguard Group Inc. boosted its holdings in shares of Vita Coco by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock valued at $80,987,000 after acquiring an additional 53,172 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Vita Coco by 14.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock valued at $55,460,000 after acquiring an additional 185,692 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Vita Coco by 15.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after acquiring an additional 193,420 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Vita Coco by 6.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after acquiring an additional 64,011 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

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.