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

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

A number of other equities analysts have also commented on COCO. Evercore ISI raised their price target on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Stephens reiterated an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.88.

Vita Coco Price Performance

Vita Coco stock opened at $33.82 on Friday. Vita Coco has a one year low of $23.56 and a one year high of $40.32. The business has a fifty day moving average price of $33.01 and a 200-day moving average price of $34.77. The firm has a market capitalization of $1.92 billion, a P/E ratio of 34.16, a PEG ratio of 2.25 and a beta of 0.39.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. During the same period last year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts expect that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm’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 sale, the insider now owns 7,097,161 shares in the company, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the transaction, the chairman now directly owns 1,689,049 shares in the company, valued at $59,218,057.94. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,854,762 shares of company stock worth $132,152,179 over the last 90 days. Corporate insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Coppell Advisory Solutions LLC grew its stake in shares of Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Vita Coco during the fourth quarter valued at about $66,000. CWM LLC grew its stake in shares of Vita Coco by 14.7% during the first 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 last quarter. Militia Capital Partners LP bought a new position in shares of Vita Coco during the first quarter valued at about $98,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Vita Coco in the first quarter worth about $111,000. 88.49% of the stock is 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.