The Vita Coco Company, Inc. Expected to Earn Q2 2024 Earnings of $0.36 Per Share (NASDAQ:COCO)

The Vita Coco Company, Inc. (NASDAQ:COCO) – Equities researchers at William Blair raised their Q2 2024 earnings estimates for shares of Vita Coco in a report issued on Wednesday, May 1st. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of $0.36 for the quarter, up from their previous forecast of $0.33. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Vita Coco’s current full-year earnings is $0.97 per share. William Blair also issued estimates for Vita Coco’s Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $1.25 EPS.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a return on equity of 26.99% and a net margin of 10.93%. The company had revenue of $112.00 million for the quarter, compared to analysts’ expectations of $111.72 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, February 29th. Finally, Piper Sandler lifted their price target on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.67.

Vita Coco Stock Performance

Shares of COCO stock opened at $26.51 on Friday. Vita Coco has a 1 year low of $19.41 and a 1 year high of $33.29. The stock has a fifty day moving average of $24.76 and a two-hundred day moving average of $25.02. The firm has a market capitalization of $1.50 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.01 and a beta of 0.18.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ira Liran sold 2,780 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the sale, the director now owns 992,644 shares in the company, valued at approximately $24,855,805.76. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock valued at $1,309,536 in the last three months. 51.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of COCO. HighTower Advisors LLC boosted its position in Vita Coco by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 127,316 shares of the company’s stock worth $3,314,000 after acquiring an additional 618 shares during the period. Moran Wealth Management LLC lifted its position in shares of Vita Coco by 7.0% in the fourth quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after purchasing an additional 619 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vita Coco by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after purchasing an additional 638 shares in the last quarter. Headinvest LLC acquired a new stake in shares of Vita Coco during the third quarter worth approximately $29,000. Finally, Versor Investments LP grew its position in Vita Coco by 9.9% during the fourth quarter. Versor Investments LP now owns 14,086 shares of the company’s stock valued at $361,000 after purchasing an additional 1,274 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.