Vita Coco Company, Inc. (NASDAQ:COCO) Receives Consensus Recommendation of “Hold” from Analysts

Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $40.6250.

A number of research firms have issued reports on COCO. Wells Fargo & Company upped their target price 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. Needham & Company LLC began coverage on shares of Vita Coco in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Zacks Research cut shares of Vita Coco from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research note on Wednesday, October 8th. Finally, Bank of America raised their price objective on Vita Coco from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th.

Insider Activity

In related news, CEO Martin Roper sold 1,835 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total transaction of $78,427.90. Following the completion of the transaction, the chief executive officer owned 287,062 shares of the company’s stock, valued at approximately $12,269,029.88. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 3,173 shares of Vita Coco stock in a transaction on Monday, September 29th. The shares were sold at an average price of $42.50, for a total transaction of $134,852.50. Following the completion of the transaction, the chief operating officer owned 76,127 shares in the company, valued at approximately $3,235,397.50. This trade represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,459,900 shares of company stock valued at $141,067,484 in the last 90 days. 32.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Vita Coco by 3,258.2% in the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company’s stock valued at $859,000 after purchasing an additional 25,544 shares in the last quarter. Rhumbline Advisers lifted its position in Vita Coco by 6.3% during the first quarter. Rhumbline Advisers now owns 57,168 shares of the company’s stock valued at $1,752,000 after buying an additional 3,393 shares in the last quarter. TT International Asset Management LTD acquired a new position in Vita Coco during the first quarter valued at approximately $3,035,000. Principal Financial Group Inc. grew its stake in Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company’s stock worth $1,343,000 after buying an additional 521 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Vita Coco by 6.2% in the first quarter. Bank of New York Mellon Corp now owns 133,572 shares of the company’s stock worth $4,094,000 after acquiring an additional 7,788 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $39.95 on Thursday. The business has a 50 day moving average price of $38.09 and a 200 day moving average price of $35.65. The company has a market capitalization of $2.27 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.54 and a beta of 0.40. Vita Coco has a 1 year low of $25.79 and a 1 year high of $43.65.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Vita Coco will post 1.07 EPS for the current fiscal year.

About Vita Coco

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.