Vita Coco (NASDAQ:COCO) Cut to “Equal Weight” at Stephens

Stephens lowered shares of Vita Coco (NASDAQ:COCO) from an overweight rating to an equal weight rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $36.00 price target on the stock.

A number of other research analysts also recently weighed in on COCO. Bank of America lifted their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Craig Hallum increased their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $33.86.

Vita Coco Trading Down 0.8 %

Shares of COCO opened at $37.82 on Monday. The business’s 50-day moving average price is $35.94 and its 200 day moving average price is $30.92. The stock has a market capitalization of $2.15 billion, a P/E ratio of 38.20, a P/E/G ratio of 2.25 and a beta of 0.31. Vita Coco has a 1-year low of $19.41 and a 1-year high of $38.91.

Vita Coco (NASDAQ:COCO) last released 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 the consensus estimate of $138.56 million. During the same period last year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Vita Coco will post 1.07 earnings per share for the current year.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,653,218.88. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,276 shares of company stock worth $5,395,796. 34.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco in the 4th quarter valued at $52,000. Quest Partners LLC boosted its stake in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. ProShare Advisors LLC bought a new stake in Vita Coco in the second quarter valued at $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.