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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $32.14.

COCO has been the subject of a number of research analyst reports. Craig Hallum lifted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $36.34 on Friday. The business’s fifty day moving average price is $34.32 and its two-hundred day moving average price is $29.67. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

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

Insider Activity

In related news, COO Jonathan Burth sold 2,244 shares of the business’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 directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,173 shares of company stock valued at $5,392,026 over the last 90 days. 34.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings 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 buying an additional 200,940 shares during the last quarter. Raymond James & Associates bought a new position in Vita Coco during the 3rd quarter worth approximately $3,990,000. Woodson Capital Management LP bought a new position in Vita Coco during the 3rd quarter worth approximately $19,224,000. American Century Companies Inc. increased its stake in Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after purchasing an additional 23,761 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

About Vita Coco

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.