The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have received an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.14.

COCO has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price 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 boosted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 912 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $37.53, for a total value of $34,227.36. Following the transaction, the chief operating officer now owns 104,108 shares of the company’s stock, valued at approximately $3,907,173.24. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,624 shares of company stock worth $5,285,497 over the last three months. 34.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in COCO. Rhumbline Advisers grew its position in shares of Vita Coco by 16.1% during the 2nd quarter. Rhumbline Advisers now owns 54,654 shares of the company’s stock worth $1,522,000 after buying an additional 7,583 shares during the period. Arizona State Retirement System grew its holdings in Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock valued at $309,000 after purchasing an additional 960 shares during the period. American Century Companies Inc. increased its stake in Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after purchasing an additional 23,761 shares in the last quarter. BOKF NA acquired a new stake in Vita Coco in the second quarter worth $254,000. Finally, William Blair Investment Management LLC boosted its position in shares of Vita Coco by 8.0% during the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock worth $21,203,000 after purchasing an additional 56,416 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of COCO stock opened at $34.60 on Tuesday. The stock’s fifty day simple moving average is $35.54 and its 200 day simple moving average is $30.49. Vita Coco has a one year low of $19.41 and a one year high of $37.88. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.02 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Vita Coco will post 1.07 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.