Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.14.
COCO has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Vita Coco from $33.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company 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 stock a "neutral" rating in a report on Friday, December 6th.
Read Our Latest Stock Report on Vita Coco
Insider Activity
In other news, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. This represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $36.37, for a total transaction of $181,850.00. Following the completion of the transaction, the chief executive officer now directly owns 337,152 shares in the company, valued at approximately $12,262,218.24. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,929 shares of company stock worth $5,324,683 over the last three months. 34.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Vita Coco
A number of large investors have recently made changes to their positions in COCO. Wasatch Advisors LP lifted its position in Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock worth $67,972,000 after buying an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP purchased a new position in shares of Vita Coco during the 3rd quarter worth $19,224,000. Victory Capital Management Inc. raised its holdings in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock worth $25,358,000 after acquiring an additional 461,748 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Vita Coco in the second quarter valued at about $9,859,000. Finally, Harbor Capital Advisors Inc. increased its position in Vita Coco by 143.0% during the third 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 during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
Vita Coco Stock Performance
COCO stock traded down $0.03 during trading on Tuesday, reaching $34.10. The company had a trading volume of 321,014 shares, compared to its average volume of 559,039. Vita Coco has a twelve month low of $19.41 and a twelve month high of $37.88. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. The firm has a 50-day simple moving average of $35.62 and a 200-day simple moving average of $30.26.
Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Sell-side analysts expect that Vita Coco will post 1.07 earnings per share for the current year.
Vita Coco Company Profile
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Get Free ReportThe 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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