The Vita Coco Company, Inc. (NASDAQ:COCO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $35.14.

Several equities analysts have weighed in on COCO shares. The Goldman Sachs Group raised their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 27th. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company dropped their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the sale, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Liran sold 1,723 shares of Vita Coco stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total value of $68,954.46. Following the sale, the director now owns 812,579 shares in the company, valued at $32,519,411.58. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,158 shares of company stock worth $3,256,670 in the last ninety days. Company insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Vita Coco by 200.6% in the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after acquiring an additional 46,385 shares during the period. Woodson Capital Management LP bought a new stake in Vita Coco in the 3rd quarter valued at about $19,224,000. Victory Capital Management Inc. raised its stake 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 during the period. Lord Abbett & CO. LLC raised its stake in Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after acquiring an additional 80,128 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in Vita Coco in the 4th quarter valued at about $790,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Up 2.7 %

NASDAQ COCO opened at $35.33 on Wednesday. The company has a fifty day simple moving average of $36.23 and a 200 day simple moving average of $33.21. Vita Coco has a 12-month low of $23.00 and a 12-month high of $40.32. The company has a market cap of $2.01 billion, a P/E ratio of 35.69, a PEG ratio of 2.25 and a beta of 0.34.

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.