The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $29.67 Average Price Target from Brokerages

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $29.67.

Separately, Stephens reissued an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $28.01 on Friday. The company has a market cap of $1.59 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.23. The company has a 50-day simple moving average of $27.31 and a 200-day simple moving average of $25.06. Vita Coco has a 12 month low of $19.41 and a 12 month high of $33.29.

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

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 2,845 shares of Vita Coco stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $30.07, for a total value of $85,549.15. Following the transaction, the chief operating officer now directly owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Es Charles Van sold 6,700 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $201,268.00. Following the completion of the sale, the insider now directly owns 97,668 shares in the company, valued at approximately $2,933,946.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 2,845 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $30.07, for a total value of $85,549.15. Following the transaction, the chief operating officer now owns 134,004 shares in the company, valued at approximately $4,029,500.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,502 shares of company stock valued at $814,205. Company insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the stock. Cim LLC purchased a new position in Vita Coco in the 1st quarter worth approximately $210,000. Comerica Bank boosted its stake in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after purchasing an additional 3,675 shares during the period. California State Teachers Retirement System grew its holdings in Vita Coco by 14.3% during the 1st quarter. California State Teachers Retirement System now owns 37,001 shares of the company’s stock valued at $904,000 after purchasing an additional 4,634 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Vita Coco during the 1st quarter worth $305,000. Finally, Janus Henderson Group PLC lifted its holdings in Vita Coco by 126.9% in the 1st quarter. Janus Henderson Group PLC now owns 30,131 shares of the company’s stock worth $736,000 after buying an additional 16,854 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.