The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $33.14 Average Price Target from Analysts

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $33.14.

Several equities analysts recently weighed in on COCO shares. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price target on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum boosted 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.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the transaction, the director now owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares in the company, valued at approximately $3,703,932. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,529 shares of company stock valued at $5,312,683 in the last quarter. 34.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Vita Coco by 16.1% during the second quarter. Rhumbline Advisers now owns 54,654 shares of the company’s stock worth $1,522,000 after acquiring an additional 7,583 shares during the last quarter. Arizona State Retirement System increased its position in Vita Coco by 9.5% during the 2nd quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after purchasing an additional 960 shares in the last quarter. American Century Companies Inc. raised its holdings in Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after buying an additional 23,761 shares during the period. BOKF NA acquired a new position in Vita Coco during the second quarter valued at approximately $254,000. Finally, William Blair Investment Management LLC grew its stake in Vita Coco by 8.0% during the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock worth $21,203,000 after buying an additional 56,416 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Down 1.5 %

NASDAQ:COCO opened at $34.70 on Tuesday. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The firm’s fifty day simple moving average is $35.58 and its 200-day simple moving average is $30.36. The stock has a market cap of $1.97 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Vita Coco will post 1.07 earnings per share for the current year.

Vita Coco Company Profile

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.