The Vita Coco Company, Inc. (NASDAQ:COCO) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.00.

COCO has been the topic of several recent analyst reports. Bank of America boosted their price target on Vita Coco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Vita Coco from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 10th. Jefferies Financial Group reduced their price objective on shares of Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler lowered shares of Vita Coco from an "overweight" rating to a "neutral" rating and cut their target price for the company from $29.00 to $28.00 in a research note on Friday, July 12th.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.05 during mid-day trading on Thursday, hitting $29.61. 910,424 shares of the company traded hands, compared to its average volume of 616,832. Vita Coco has a 52-week low of $19.41 and a 52-week high of $31.54. The firm's 50 day simple moving average is $27.74 and its 200 day simple moving average is $27.03. The firm has a market cap of $1.68 billion, a P/E ratio of 32.28, a PEG ratio of 2.24 and a beta of 0.23.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same period last year, the business earned $0.26 EPS. The business's revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Vita Coco will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 905 shares of the company's stock in a transaction 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 $3,703,932. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 4,949 shares of company stock valued at $148,585. Insiders own 34.20% of the company's stock.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently made changes to their positions in COCO. nVerses Capital LLC grew its holdings in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock worth $72,000 after buying an additional 1,900 shares in the last quarter. CWM LLC grew its stake in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company's stock worth $76,000 after purchasing an additional 787 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock valued at $89,000 after purchasing an additional 3,210 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock valued at $92,000 after purchasing an additional 919 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after purchasing an additional 3,675 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

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.