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

The Vita Coco Company, Inc. (NASDAQ:COCO) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.00.

Separately, Craig Hallum boosted their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Vita Coco Trading Down 1.4 %

COCO opened at $36.12 on Monday. The business has a 50 day moving average of $30.85 and a 200-day moving average of $28.23. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 2.39 and a beta of 0.22. Vita Coco has a 1-year low of $19.41 and a 1-year high of $37.05.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 11.99% and a return on equity of 26.49%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. Equities analysts predict that Vita Coco will post 1.07 EPS for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the sale, the director now directly owns 883,729 shares of the company’s stock, valued at approximately $31,849,593.16. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,425 shares of company stock valued at $1,669,873. 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 bought and sold shares of the business. nVerses Capital LLC grew its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its position in Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after acquiring an additional 787 shares in the last quarter. Comerica Bank raised its stake in shares of 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 acquiring an additional 3,675 shares during the last quarter. Quest Partners LLC lifted its position 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 purchasing an additional 3,473 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Vita Coco during the second quarter valued at approximately $141,000. 88.49% of the stock is currently owned by institutional investors.

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.