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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $35.14.

Several brokerages have recently issued reports on COCO. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, January 27th. The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. 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.

Vita Coco Price Performance

NASDAQ:COCO opened at $33.36 on Wednesday. Vita Coco has a 12-month low of $23.00 and a 12-month high of $40.32. The business has a 50 day simple moving average of $36.50 and a 200 day simple moving average of $32.91. The firm has a market capitalization of $1.90 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.25 and a beta of 0.30.

Insider Activity

In other Vita Coco news, CFO Corey Baker sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total value of $74,560.00. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. This represents a 4.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the transaction, the director now owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,632 shares of company stock worth $3,458,468 over the last three months. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Barclays PLC increased its holdings in shares of Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after buying an additional 46,385 shares in the last quarter. Woodson Capital Management LP acquired a new stake in shares of Vita Coco during the third quarter worth $19,224,000. Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after purchasing an additional 80,128 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Vita Coco by 94.2% in the 4th quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock valued at $875,000 after purchasing an additional 11,500 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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.