Vita Coco (NASDAQ:COCO) Stock Rating Lowered by Stephens

Vita Coco (NASDAQ:COCO) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat Ratings reports. They presently have a $36.00 price target on the stock. Stephens’ price target would suggest a potential downside of 6.32% from the company’s previous close.

A number of other analysts have also recently issued reports on COCO. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities 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.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus target price of $33.86.

Vita Coco Stock Performance

Shares of COCO stock traded down $0.22 during mid-day trading on Monday, hitting $38.43. 105,782 shares of the stock traded hands, compared to its average volume of 456,904. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 2.25 and a beta of 0.31. Vita Coco has a twelve month low of $19.41 and a twelve month high of $38.91. The company’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $30.74.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Analysts forecast that Vita Coco will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 14,836 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.61, for a total value of $557,981.96. Following the transaction, the chief operating officer now directly owns 105,417 shares in the company, valued at $3,964,733.37. This represents a 12.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,276 shares of company stock worth $5,395,796 over the last quarter. Company insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COCO. GAMMA Investing LLC raised its holdings in Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the 4th quarter worth approximately $52,000. Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the last quarter. ProShare Advisors LLC bought a new stake in Vita Coco during the second quarter worth $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after acquiring an additional 1,434 shares during 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.