Stephens Downgrades Vita Coco (NASDAQ:COCO) to Equal Weight

Vita Coco (NASDAQ:COCO) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $36.00 price objective on the stock. Stephens’ price objective would suggest a potential downside of 5.69% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Craig Hallum raised their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Bank of America increased their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

Vita Coco Trading Up 0.7 %

Shares of Vita Coco stock opened at $38.17 on Monday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 2.25 and a beta of 0.31. Vita Coco has a twelve month low of $19.41 and a twelve month high of $38.91. The business’s 50 day simple moving average is $35.92 and its 200-day simple moving average is $30.87.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Sell-side analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

Insider Transactions at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total value of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares in the company, valued at approximately $3,914,460.80. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,276 shares of company stock valued at $5,395,796. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently modified their holdings of COCO. Barclays PLC increased its stake in Vita Coco by 200.6% in the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after purchasing an additional 46,385 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Vita Coco by 143.0% in 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 during the period. Raymond James & Associates purchased a new position in shares of Vita Coco in the third quarter worth approximately $3,990,000. Woodson Capital Management LP acquired a new stake in shares of Vita Coco during the third quarter valued at approximately $19,224,000. Finally, Victory Capital Management Inc. lifted its position in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.