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

Vita Coco Company, Inc. (NASDAQ:COCO) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $77.7143.

COCO has been the subject of several research reports. Jefferies Financial Group boosted their target price on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Morgan Stanley lifted their price target on Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Piper Sandler boosted their price objective on Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company raised their target price on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th.

Insider Buying and Selling

In related news, Director Ira Liran sold 73,842 shares of Vita Coco stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.32, for a total value of $5,930,989.44. Following the transaction, the director directly owned 402,579 shares in the company, valued at $32,335,145.28. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the transaction, the insider owned 59,085 shares in the company, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 355,845 shares of company stock valued at $28,309,399 over the last three months. 12.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the period. Quarry LP increased its position in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Vita Coco by 265.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after buying an additional 958 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after buying an additional 232 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $64.46 on Wednesday. Vita Coco has a 12 month low of $31.92 and a 12 month high of $85.83. The firm has a market capitalization of $3.70 billion, a P/E ratio of 35.61, a P/E/G ratio of 1.18 and a beta of 0.77. The company’s fifty day moving average price is $72.57 and its 200 day moving average price is $63.39.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. Vita Coco’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, sell-side analysts anticipate that Vita Coco will post 1.96 EPS for the current year.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.