Vita Coco (COCO) to Release Quarterly Earnings on Wednesday

Vita Coco (NASDAQ:COCO) will be announcing its earnings results before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The company had revenue of $112.00 million for the quarter, compared to analyst estimates of $111.72 million. During the same quarter in the prior year, the business posted $0.12 EPS. Vita Coco’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Trading Down 2.6 %

COCO stock opened at $23.68 on Tuesday. The firm has a market cap of $1.34 billion, a PE ratio of 25.73, a PEG ratio of 1.48 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 fifty day simple moving average of $27.64 and a 200 day simple moving average of $25.21.

Insider Transactions at Vita Coco

In related news, insider Es Charles Van sold 2,805 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $30.06, for a total value of $84,318.30. Following the completion of the transaction, the insider now directly owns 97,668 shares of the company’s stock, valued at $2,935,900.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Es Charles Van sold 2,805 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $30.06, for a total value of $84,318.30. Following the sale, the insider now owns 97,668 shares of the company’s stock, valued at $2,935,900.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 2,845 shares of the 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 completion of the transaction, the chief operating officer now directly owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,874 shares of company stock valued at $945,365. 34.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stephens reiterated an “overweight” rating and set a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Wells Fargo & Company upped their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Bank of America boosted their target price on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Jefferies Financial Group cut their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

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.