Vita Coco (NASDAQ:COCO) Coverage Initiated by Analysts at Morgan Stanley

Analysts at Morgan Stanley initiated coverage on shares of Vita Coco (NASDAQ:COCO) in a research note issued on Tuesday, FlyOnTheWall reports. The brokerage set an “equal weight” rating on the stock.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Vita Coco from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $32.00 in a report on Wednesday, August 2nd. The Goldman Sachs Group boosted their price objective on Vita Coco from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Piper Sandler raised their target price on Vita Coco from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Finally, Stephens assumed coverage on Vita Coco in a research note on Thursday, June 22nd. They set an “equal weight” rating and a $30.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $26.49 on Tuesday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 51.94 and a beta of 0.07. Vita Coco has a 1 year low of $7.39 and a 1 year high of $33.29. The business’s 50-day moving average is $26.91 and its 200-day moving average is $24.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. The firm had revenue of $139.65 million for the quarter, compared to analyst estimates of $131.40 million. Vita Coco had a net margin of 6.26% and a return on equity of 20.71%. Analysts anticipate that Vita Coco will post 0.79 EPS for the current year.

Insider Buying and Selling at Vita Coco

In related news, CMO Jane Prior sold 45,091 shares of Vita Coco stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $29.65, for a total value of $1,336,948.15. Following the sale, the chief marketing officer now owns 123,098 shares of the company’s stock, valued at approximately $3,649,855.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Es Charles Van sold 45,315 shares of Vita Coco stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $29.59, for a total value of $1,340,870.85. Following the completion of the transaction, the insider now directly owns 93,258 shares in the company, valued at approximately $2,759,504.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Jane Prior sold 45,091 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $29.65, for a total value of $1,336,948.15. Following the sale, the chief marketing officer now owns 123,098 shares in the company, valued at approximately $3,649,855.70. The disclosure for this sale can be found here. Insiders have sold a total of 189,829 shares of company stock worth $5,619,528 over the last three months. 51.10% of the stock is currently owned by insiders.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. Granahan Investment Management LLC boosted its holdings in Vita Coco by 12.7% in the 4th quarter. Granahan Investment Management LLC now owns 2,440,728 shares of the company’s stock valued at $33,731,000 after purchasing an additional 275,892 shares during the period. BlackRock Inc. raised its position in shares of Vita Coco by 12.9% during the 2nd quarter. BlackRock Inc. now owns 1,997,803 shares of the company’s stock valued at $53,681,000 after buying an additional 228,678 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vita Coco by 28.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,321,632 shares of the company’s stock worth $15,053,000 after acquiring an additional 291,757 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Vita Coco by 60.9% during the first quarter. William Blair Investment Management LLC now owns 1,196,237 shares of the company’s stock worth $23,470,000 after purchasing an additional 452,746 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of Vita Coco by 25.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,117,079 shares of the company’s stock valued at $30,016,000 after buying an additional 228,953 shares in the last quarter. 42.33% of the stock is currently owned by institutional investors.

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.