The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Consensus Rating of “Moderate Buy” from Brokerages

The Vita Coco Company, Inc. (NASDAQ:COCO) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.14.

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

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the sale, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,173 shares of company stock valued at $4,324,626. 34.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its stake in Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Vita Coco during the third quarter valued at approximately $3,990,000. Woodson Capital Management LP bought a new stake in shares of Vita Coco during the third quarter valued at approximately $19,224,000. American Century Companies Inc. raised its holdings in Vita Coco by 42.2% in the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after acquiring an additional 23,761 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $35.64 on Friday. The firm has a market cap of $2.02 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. Vita Coco has a 52 week low of $19.41 and a 52 week high of $37.88. The firm’s fifty day moving average is $33.77 and its 200-day moving average is $29.45.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) 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 firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same quarter last year, the business earned $0.26 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Vita Coco will post 1.07 EPS for the current year.

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.