Vita Coco (COCO) Scheduled to Post Earnings on Wednesday

Vita Coco (NASDAQ:COCO) will be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Price Performance

Shares of COCO opened at $23.61 on Wednesday. The stock’s 50-day moving average is $24.18 and its two-hundred day moving average is $25.08. The stock has a market cap of $1.34 billion, a PE ratio of 29.51, a P/E/G ratio of 1.87 and a beta of 0.16. Vita Coco has a 12 month low of $19.41 and a 12 month high of $33.29.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COCO. Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group reduced their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. William Blair cut Vita Coco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Piper Sandler lifted their target price on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.71.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the sale, the chairman now directly owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Vita Coco news, Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.04, for a total value of $69,611.20. Following the completion of the transaction, the director now directly owns 992,644 shares in the company, valued at $24,855,805.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock valued at $1,309,536 over the last three months. 51.10% of the stock is owned by insiders.

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.