Weiss Ratings Reaffirms "Buy (B-)" Rating for Vita Coco (NASDAQ:COCO)

Key Points

• Weiss Ratings has restated a "Buy (B-)" rating for Vita Coco (NASDAQ: COCO), indicating confidence in the company's stock performance.
• Other analysts, including Piper Sandler and Goldman Sachs, have raised their target prices for Vita Coco, with a consensus price target of $40.63.
• Despite a recent stock price decline, Vita Coco reported better-than-expected quarterly earnings with a 17.1% year-over-year revenue growth.

Vita Coco (NASDAQ:COCO - Get Free Report)'s stock had its "buy (b-)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Morgan Stanley raised their target price on shares of Vita Coco from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, September 25th. Wells Fargo & Company upped their price target on shares of Vita Coco from $45.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, September 25th. The Goldman Sachs Group boosted their price objective on Vita Coco from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Needham & Company LLC began coverage on shares of Vita Coco in a report on Wednesday, September 24th. They issued a "hold" rating on the stock. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.63.

Vita Coco Price Performance

Shares of NASDAQ COCO traded down $1.36 during midday trading on Wednesday, reaching $41.40. 601,156 shares of the stock traded hands, compared to its average volume of 1,236,167. The company's 50 day moving average is $37.39 and its 200 day moving average is $35.37. Vita Coco has a one year low of $25.79 and a one year high of $43.65. The stock has a market capitalization of $2.35 billion, a PE ratio of 38.69, a P/E/G ratio of 2.27 and a beta of 0.40.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. During the same period last year, the company posted $0.32 EPS. The business's revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 16,827 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.55, for a total value of $715,988.85. Following the sale, the chief operating officer directly owned 76,127 shares of the company's stock, valued at approximately $3,239,203.85. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Es Charles Van sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.04, for a total value of $840,800.00. Following the completion of the transaction, the insider directly owned 84,328 shares of the company's stock, valued at $3,545,149.12. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,455,906 shares of company stock worth $140,876,626 over the last quarter. Company insiders own 32.30% of the company's stock.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MAI Capital Management purchased a new stake in Vita Coco during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after purchasing an additional 1,344 shares during the period. Ameritas Advisory Services LLC acquired a new position in Vita Coco in the 2nd quarter valued at about $50,000. CWM LLC grew its stake in shares of Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after buying an additional 367 shares during the period. Finally, Militia Capital Partners LP increased its holdings in shares of Vita Coco by 60.0% during the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock worth $98,000 after buying an additional 1,200 shares during the last quarter. 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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