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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

Separately, Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Insider Activity at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now owns 452,452 shares of the company’s stock, valued at $16,220,404.20. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,313 shares of company stock valued at $1,992,268. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC raised its holdings in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares in the last quarter. CWM LLC increased its holdings in Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares during the last quarter. Comerica Bank increased its holdings in Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the last quarter. Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Vita Coco in the second quarter worth approximately $141,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Performance

Vita Coco stock opened at $35.54 on Monday. The stock has a market cap of $2.02 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.32 and a beta of 0.22. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $37.05. The firm’s 50-day simple moving average is $31.61 and its 200 day simple moving average is $28.56.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, analysts predict 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.