Wall Street Zen Downgrades Vita Coco (NASDAQ:COCO) to Hold

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

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

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.56 on Friday, reaching $33.26. 482,249 shares of the company traded hands, compared to its average volume of 619,906. The company has a 50 day moving average of $33.14 and a 200 day moving average of $34.76. Vita Coco has a 52 week low of $23.56 and a 52 week high of $40.32. The firm has a market capitalization of $1.89 billion, a PE ratio of 33.60, a PEG ratio of 2.25 and a beta of 0.39.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 return on equity of 26.49% and a net margin of 11.99%. The business's revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, analysts anticipate that Vita Coco will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 14,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $37.03, for a total transaction of $518,420.00. Following the sale, the chairman now directly owns 1,629,049 shares in the company, valued at $60,323,684.47. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,854,762 shares of company stock worth $132,152,179 over the last quarter. 32.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Large investors have recently made changes to their positions in the business. Militia Capital Partners LP raised its stake in Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock valued at $98,000 after buying an additional 1,200 shares during the last quarter. Cim LLC increased its holdings in shares of Vita Coco by 60.1% during the first quarter. Cim LLC now owns 13,390 shares of the company's stock valued at $410,000 after acquiring an additional 5,025 shares in the last quarter. Rhumbline Advisers raised its position in shares of Vita Coco by 6.3% in the 1st quarter. Rhumbline Advisers now owns 57,168 shares of the company's stock worth $1,752,000 after purchasing an additional 3,393 shares during the last quarter. Strs Ohio bought a new position in Vita Coco in the 1st quarter worth about $432,000. Finally, Ascent Group LLC purchased a new stake in Vita Coco during the 1st quarter valued at about $348,000. 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.