The Vita Coco Company, Inc. (NASDAQ:COCO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.67.

Several equities research analysts recently issued reports on COCO shares. Piper Sandler lifted their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stephens reaffirmed an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research report on Thursday, May 23rd.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,845 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $30.07, for a total transaction of $85,549.15. Following the completion of the transaction, the chief operating officer now owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vita Coco news, COO Jonathan Burth sold 2,845 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $30.07, for a total value of $85,549.15. Following the sale, the chief operating officer now owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Es Charles Van sold 6,700 shares of Vita Coco stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $201,268.00. Following the completion of the transaction, the insider now directly owns 97,668 shares in the company, valued at $2,933,946.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,317 shares of company stock worth $1,159,580. 34.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

Several large investors have recently bought and sold shares of COCO. Moran Wealth Management LLC grew its position in Vita Coco by 7.0% in the 4th quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after purchasing an additional 619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Vita Coco by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after buying an additional 638 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after acquiring an additional 919 shares during the period. Headinvest LLC acquired a new position in Vita Coco in the 3rd quarter valued at approximately $29,000. Finally, Versor Investments LP lifted its position in shares of Vita Coco by 9.9% in the 4th quarter. Versor Investments LP now owns 14,086 shares of the company’s stock worth $361,000 after acquiring an additional 1,274 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Down 1.8 %

COCO opened at $27.38 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 29.76, a PEG ratio of 1.77 and a beta of 0.26. The stock has a fifty day moving average of $27.04 and a 200-day moving average of $25.07. Vita Coco has a 12-month low of $19.41 and a 12-month high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $112.00 million for the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. Vita Coco’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, analysts expect that Vita Coco will post 1.04 earnings per share for the current fiscal 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.