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

The Vita Coco Company, Inc. (NASDAQ:COCO) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $34.57.

A number of equities research analysts have issued reports on COCO shares. Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday. The Goldman Sachs Group raised their price target on 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 cut their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th.

Vita Coco Trading Down 0.3 %

Shares of NASDAQ COCO opened at $29.85 on Friday. Vita Coco has a 12-month low of $23.00 and a 12-month high of $40.32. The firm’s 50-day moving average price is $36.12 and its 200-day moving average price is $33.94. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.25 and a beta of 0.34.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the sale, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. The trade was a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the transaction, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the period. Pier Capital LLC lifted its position in shares of Vita Coco by 39.6% in the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock worth $7,405,000 after purchasing an additional 56,879 shares during the period. Lord Abbett & CO. LLC boosted its stake 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Vita Coco during the fourth quarter valued at approximately $7,985,000. Finally, Cookson Peirce & Co. Inc. bought a new position in Vita Coco in the fourth quarter worth approximately $790,000. Institutional investors 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.