Vita Coco Company, Inc. (NASDAQ:COCO) Receives $51.88 Average Price Target from Analysts

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.8750.

COCO has been the subject of a number of research analyst reports. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Needham & Company LLC started coverage on Vita Coco in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Evercore ISI increased their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Morgan Stanley lifted their price target on shares of Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th.

Vita Coco Trading Up 1.4%

NASDAQ COCO opened at $54.56 on Friday. The firm’s 50 day simple moving average is $44.61 and its 200 day simple moving average is $39.25. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 47.44, a P/E/G ratio of 1.82 and a beta of 0.37. Vita Coco has a 1 year low of $25.79 and a 1 year high of $55.09.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s revenue was up 37.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts forecast that Vita Coco will post 1.07 earnings per share for the current year.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 30,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00. Following the completion of the transaction, the chairman directly owned 1,599,049 shares in the company, valued at approximately $62,618,758.84. This represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Liran sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total value of $2,100,000.00. Following the sale, the director owned 692,579 shares in the company, valued at $29,088,318. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,783,153 shares of company stock worth $156,346,123. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COCO. Clearstead Advisors LLC boosted its position in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 675 shares during the period. Quarry LP raised its stake in shares of Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after acquiring an additional 758 shares during the last quarter. MAI Capital Management acquired a new position in shares of Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Vita Coco in the second quarter worth $50,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.