The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $30.29 Consensus PT from Brokerages

The Vita Coco Company, Inc. (NASDAQ:COCO) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.00.

Several analysts have commented on COCO shares. Bank of America raised their target price on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Stephens restated an “overweight” rating and set a $31.00 price objective on shares of Vita Coco in a report on Thursday, May 23rd. Jefferies Financial Group dropped their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th.

Insiders Place Their Bets

In related news, insider Es Charles Van sold 4,372 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total value of $131,160.00. Following the completion of the sale, the insider now directly owns 97,668 shares of the company’s stock, valued at approximately $2,930,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Es Charles Van sold 4,372 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total value of $131,160.00. Following the completion of the sale, the insider now directly owns 97,668 shares of the company’s stock, valued at approximately $2,930,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 2,845 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $30.07, for a total transaction of $85,549.15. Following the transaction, the chief operating officer now owns 134,004 shares in the company, valued at $4,029,500.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,874 shares of company stock worth $945,365. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moran Wealth Management LLC lifted its position in Vita Coco by 7.0% during the fourth quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock valued at $243,000 after purchasing an additional 619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vita Coco by 5.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after purchasing an additional 638 shares during the period. CWM LLC lifted its position in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after acquiring an additional 787 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after purchasing an additional 919 shares during the last quarter. Finally, Versor Investments LP raised its position in 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 buying an additional 1,274 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Up 1.3 %

Shares of NASDAQ COCO opened at $24.30 on Tuesday. The company has a market cap of $1.38 billion, a PE ratio of 26.41, a P/E/G ratio of 1.46 and a beta of 0.23. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29. The company has a 50-day moving average of $27.71 and a two-hundred day moving average of $25.23.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The business had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $111.72 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Vita Coco will post 1.01 earnings per share 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.