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

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have earned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $77.7143.

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. The Goldman Sachs Group set a $90.00 target price on Vita Coco and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Piper Sandler lifted their target price on Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a report on Wednesday, July 29th.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the transaction, the director owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of Vita Coco stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the sale, the director owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 355,845 shares of company stock valued at $28,309,399 over the last 90 days. 12.90% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares in the last quarter. Mariner LLC lifted its stake in Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after purchasing an additional 236 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Vita Coco by 4.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after purchasing an additional 489 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Vita Coco by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,341 shares of the company’s stock valued at $4,047,000 after purchasing an additional 539 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Up 2.7%

Vita Coco stock opened at $64.46 on Wednesday. The company has a 50-day moving average price of $72.57 and a 200 day moving average price of $63.39. Vita Coco has a 12-month low of $31.92 and a 12-month high of $85.83. The stock has a market cap of $3.70 billion, a P/E ratio of 35.61, a PEG ratio of 1.18 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The company had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. During the same period in the previous year, the business posted $0.38 EPS. Vita Coco’s revenue was up 28.1% on a year-over-year basis. As a group, analysts forecast 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.