Vita Coco Company, Inc. (NASDAQ:COCO) Stock Has Consensus Target Price of $76.86

Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $73.50.

COCO has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Vita Coco from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Monday. Oppenheimer initiated coverage on Vita Coco in a report on Thursday. They issued an “outperform” rating and a $70.00 target price on the stock. Weiss Ratings downgraded shares of Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. The Goldman Sachs Group set a $90.00 price target on shares of Vita Coco and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Evercore upped their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, July 24th.

Vita Coco Price Performance

Shares of COCO opened at $55.32 on Thursday. Vita Coco has a one year low of $38.07 and a one year high of $85.83. The company has a market cap of $3.18 billion, a PE ratio of 30.56, a P/E/G ratio of 1.55 and a beta of 0.76. The stock has a 50-day moving average of $60.21 and a 200-day moving average of $64.30.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to the consensus estimate of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Analysts expect that Vita Coco will post 1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Vita Coco in the 2nd quarter valued at about $463,654,000. Wasatch Advisors LP increased its holdings in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Vita Coco by 1.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,073,610 shares of the company’s stock worth $56,912,000 after purchasing an additional 10,849 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vita Coco by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock worth $51,422,000 after purchasing an additional 61,950 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Vita Coco in the second quarter worth approximately $56,722,000. 88.49% of the stock is owned by institutional investors.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional and hydration-focused products under brands such as PWR LIFT and Ever & Ever.

Founded in 2004, Vita Coco helped expand the mainstream market for packaged coconut water. The company sells its products through grocery stores, mass retailers, convenience stores, clubs, e-commerce platforms, and food-service channels.