The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) shares rose 5.1% on Monday . The company traded as high as $34.35 and last traded at $33.60. Approximately 223,289 shares changed hands during trading, a decline of 64% from the average daily volume of 617,779 shares. The stock had previously closed at $31.97.
Wall Street Analysts Forecast Growth
COCO has been the subject of a number of research reports. Jefferies Financial Group dropped their target price on Vita Coco from $35.00 to $31.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Piper Sandler cut Vita Coco from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Craig Hallum lifted their target price on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday. Bank of America lifted their target price on Vita Coco from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their target price on Vita Coco from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Vita Coco currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.
Read Our Latest Research Report on COCO
Vita Coco Price Performance
The company has a fifty day moving average price of $27.98 and a two-hundred day moving average price of $27.15. The company has a market capitalization of $1.96 billion, a P/E ratio of 35.47, a PEG ratio of 2.46 and a beta of 0.22.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that The Vita Coco Company, Inc. will post 1 earnings per share for the current year.
Insider Buying and Selling at Vita Coco
In other news, COO Jonathan Burth sold 2,244 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares of the company's stock, valued at $3,739,396.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 4,949 shares of company stock valued at $148,585. 34.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Vita Coco
A number of institutional investors and hedge funds have recently made changes to their positions in COCO. Champlain Investment Partners LLC bought a new position in shares of Vita Coco during the 1st quarter worth about $18,210,000. Victory Capital Management Inc. boosted its position in shares of Vita Coco by 1,310.1% during the 2nd quarter. Victory Capital Management Inc. now owns 433,968 shares of the company's stock worth $12,086,000 after purchasing an additional 403,192 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Vita Coco during the 2nd quarter worth about $9,859,000. Vanguard Group Inc. boosted its position in shares of Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company's stock worth $58,032,000 after purchasing an additional 230,991 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Institutional investors own 88.49% of the company's stock.
About Vita Coco
(
Get Free Report)
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.
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