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

Vita Coco (NASDAQ:COCO)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a research note issued to investors on Thursday, Benzinga reports. They currently have a $31.00 price objective on the stock. Stephens’ target price would indicate a potential upside of 19.00% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Piper Sandler upped their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. The Goldman Sachs Group cut 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Vita Coco Stock Down 0.7 %

COCO stock traded down $0.18 during trading on Thursday, hitting $26.05. 53,144 shares of the company’s stock traded hands, compared to its average volume of 677,667. Vita Coco has a 52 week low of $19.41 and a 52 week high of $33.29. The stock has a fifty day moving average price of $25.16 and a two-hundred day moving average price of $25.09. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 1.68 and a beta of 0.18.

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

Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the transaction, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ira Liran sold 13,998 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total value of $350,229.96. Following the transaction, the director now owns 645,942 shares in the company, valued at $16,161,468.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Kirban sold 19,198 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the transaction, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,353 shares of company stock worth $1,309,536. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently added to or reduced their stakes in the company. Cim LLC acquired a new position in Vita Coco in the first quarter worth approximately $210,000. Comerica Bank boosted its position in Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after purchasing an additional 3,675 shares during the period. California State Teachers Retirement System boosted its position in Vita Coco by 14.3% during the first quarter. California State Teachers Retirement System now owns 37,001 shares of the company’s stock worth $904,000 after purchasing an additional 4,634 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Vita Coco during the first quarter worth approximately $305,000. Finally, Janus Henderson Group PLC boosted its position in Vita Coco by 126.9% during the first quarter. Janus Henderson Group PLC now owns 30,131 shares of the company’s stock worth $736,000 after purchasing an additional 16,854 shares during the period. 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.