The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $30.17 Consensus Price Target from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.00.

A number of research analysts recently commented on COCO shares. Wells Fargo & Company upped their price objective on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Bank of America upped their price target on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Craig Hallum upped their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group decreased their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,949 shares of company stock valued at $148,585 in the last quarter. Insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its holdings in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after buying an additional 200,940 shares in the last quarter. Raymond James & Associates acquired a new position in Vita Coco in the 3rd quarter worth approximately $3,990,000. GSA Capital Partners LLP acquired a new position in Vita Coco in the 1st quarter worth approximately $1,028,000. American Century Companies Inc. boosted its stake in Vita Coco by 42.2% in the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after purchasing an additional 23,761 shares during the period. Finally, Pier Capital LLC boosted its stake in Vita Coco by 37.7% in the 2nd quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock worth $8,134,000 after purchasing an additional 79,957 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Up 0.5 %

Shares of Vita Coco stock opened at $35.44 on Thursday. Vita Coco has a twelve month low of $19.41 and a twelve month high of $36.17. The business has a 50-day moving average price of $28.56 and a 200 day moving average price of $27.37. The firm has a market cap of $2.01 billion, a PE ratio of 35.80, a P/E/G ratio of 2.49 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last posted 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 company had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. Vita Coco’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. On average, sell-side analysts expect that Vita Coco will post 1.07 EPS for the current 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.