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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.14.

COCO has been the subject of a number of research reports. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th.

Vita Coco Price Performance

NASDAQ COCO opened at $34.13 on Tuesday. 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 $1.94 billion, a P/E ratio of 34.47, a P/E/G ratio of 2.42 and a beta of 0.31. The stock’s 50-day moving average is $35.62 and its 200-day moving average is $30.26.

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

Insider Activity

In other news, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at approximately $3,703,932. The trade was a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,929 shares of company stock valued at $5,324,683. 34.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Quest Partners LLC boosted its holdings in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares during the period. ProShare Advisors LLC acquired a new position in shares of Vita Coco in the second quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after purchasing an additional 1,434 shares during the period. Finally, LVW Advisors LLC acquired a new stake in Vita Coco during the 3rd quarter worth approximately $209,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.