Vita Coco (NASDAQ:COCO) Earns Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Vita Coco (NASDAQ:COCOFree Report) in a research report report published on Thursday, Benzinga reports. They currently have a $31.00 price target on the stock.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Vita Coco from $32.00 to $28.00 and set a buy rating for the company in a report on Tuesday, January 30th. Piper Sandler increased their target price on Vita Coco from $24.00 to $28.00 and gave the company an overweight rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Vita Coco presently has a consensus rating of Moderate Buy and an average price target of $29.67.

View Our Latest Research Report on Vita Coco

Vita Coco Stock Performance

Shares of COCO opened at $26.24 on Thursday. The stock has a market capitalization of $1.49 billion, a PE ratio of 28.52, a P/E/G ratio of 1.65 and a beta of 0.18. The company’s 50-day simple moving average is $25.22 and its 200-day simple moving average is $25.04. Vita Coco has a 1 year low of $19.41 and a 1 year high of $33.29.

Vita Coco (NASDAQ:COCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. Vita Coco’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. On average, sell-side analysts predict that Vita Coco will post 1.04 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now directly owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the transaction, the director now directly owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the sale, the chairman now owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. 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 over the last ninety days. Insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several institutional investors have recently added to or reduced their stakes in COCO. Headinvest LLC purchased a new position in shares of Vita Coco in the 3rd quarter valued at approximately $29,000. Robeco Institutional Asset Management B.V. purchased a new position in Vita Coco in the 4th quarter valued at $60,000. New York State Teachers Retirement System acquired a new position in Vita Coco in the 1st quarter valued at $63,000. PNC Financial Services Group Inc. raised its position in Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Vita Coco by 32.3% in the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after acquiring an additional 919 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

About Vita Coco

(Get Free Report)

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.

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Analyst Recommendations for Vita Coco (NASDAQ:COCO)

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