Analysts Set Vita Coco Company, Inc. (NASDAQ:COCO) Price Target at $53.50

Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $53.50.

Several research firms have weighed in on COCO. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Wells Fargo & Company lifted their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Jefferies Financial Group increased their price target on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. The Goldman Sachs Group raised their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley lifted their price objective on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th.

Vita Coco Price Performance

Shares of COCO stock opened at $54.87 on Friday. The firm has a 50-day moving average of $53.04 and a 200-day moving average of $43.80. Vita Coco has a one year low of $25.79 and a one year high of $56.46. The company has a market cap of $3.12 billion, a P/E ratio of 47.71, a P/E/G ratio of 1.48 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, research analysts expect that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In related news, Director Ira Liran sold 25,381 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $50.29, for a total value of $1,276,410.49. Following the transaction, the director owned 498,341 shares in the company, valued at approximately $25,061,568.89. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Zupo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of the sale, the director directly owned 12,162 shares of the company’s stock, valued at $531,722.64. This represents a 45.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 349,153 shares of company stock worth $16,355,806. Company insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Vita Coco by 3.5% during the third quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock worth $123,676,000 after purchasing an additional 97,233 shares during the period. Wasatch Advisors LP boosted its holdings in Vita Coco by 3.3% in the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock worth $115,917,000 after buying an additional 86,541 shares during the period. Artisan Partners Limited Partnership grew its stake in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after buying an additional 224,305 shares in the last quarter. Wellington Management Group LLP raised its holdings in Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after acquiring an additional 1,392,678 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Vita Coco during the 3rd quarter valued at $62,815,000. 88.49% of the stock is currently owned by institutional investors.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.