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

The Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

Separately, Craig Hallum lifted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Vita Coco Stock Performance

COCO opened at $35.54 on Monday. The company has a fifty day moving average price of $31.61 and a two-hundred day moving average price of $28.56. The firm has a market capitalization of $2.02 billion, a PE ratio of 35.90, a P/E/G ratio of 2.32 and a beta of 0.22. Vita Coco has a 52 week low of $19.41 and a 52 week high of $37.05.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Equities analysts forecast that Vita Coco will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the sale, the chief executive officer now owns 452,452 shares in the company, valued at approximately $16,220,404.20. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Burth sold 2,244 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the transaction, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,313 shares of company stock valued at $1,992,268. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Wasatch Advisors LP raised its stake in shares of Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after acquiring an additional 1,799,168 shares during the last quarter. Vanguard Group Inc. grew its holdings in Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after purchasing an additional 230,991 shares during the period. Geode Capital Management LLC grew its holdings in Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares during the period. Victory Capital Management Inc. grew its holdings in Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. Finally, State Street Corp grew its holdings in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after buying an additional 39,431 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

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.