Vita Coco (NASDAQ:COCO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Vita Coco (NASDAQ:COCO) from a sell rating to a hold rating in a report published on Saturday.

COCO has been the subject of a number of other research reports. Wells Fargo & Company boosted their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Evercore restated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a report on Thursday, March 12th. Finally, Piper Sandler raised their price target on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.38.

Vita Coco Price Performance

Vita Coco stock opened at $52.88 on Friday. The firm has a market capitalization of $3.02 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. Vita Coco has a 1-year low of $25.79 and a 1-year high of $61.39. The company’s 50-day moving average is $55.17 and its 200 day moving average is $49.20.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Research analysts anticipate that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In related news, Director Jane Cecil Morreau sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total transaction of $808,650.00. Following the completion of the transaction, the director owned 17,179 shares in the company, valued at $926,119.89. The trade was a 46.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Jane Prior sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the transaction, the chief marketing officer directly owned 127,399 shares in the company, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 190,800 shares of company stock worth $10,704,346. 32.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCO. GAMMA Investing LLC raised its stake in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares during the last quarter. CWM LLC grew its stake in shares of Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC increased its holdings in shares of Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after acquiring an additional 236 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Vita Coco by 0.9% during the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after acquiring an additional 298 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Vita Coco by 3.2% in the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after purchasing an additional 376 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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.