Vita Coco (NASDAQ:COCO) Cut to Equal Weight at Stephens

Stephens downgraded shares of Vita Coco (NASDAQ:COCO) from an overweight rating to an equal weight rating in a research note published on Monday morning, MarketBeat reports. They currently have $36.00 price target on the stock.

Several other research firms also recently issued reports on COCO. Craig Hallum upped their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Bank of America upped their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lifted their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.86.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $37.82 on Monday. The business has a fifty day moving average of $35.94 and a 200-day moving average of $30.92. Vita Coco has a twelve month low of $19.41 and a twelve month high of $38.91. The firm has a market cap of $2.15 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.25 and a beta of 0.31.

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

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total value of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares of the company’s stock, valued at approximately $3,914,460.80. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.35, for a total transaction of $176,750.00. Following the sale, the chief executive officer now directly owns 447,452 shares of the company’s stock, valued at $15,817,428.20. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,276 shares of company stock worth $5,395,796. 34.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco during the fourth quarter worth approximately $52,000. Quest Partners LLC increased its stake in shares of 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 purchasing an additional 3,473 shares during the period. ProShare Advisors LLC acquired a new stake in Vita Coco during the 2nd quarter worth approximately $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vita Coco by 25.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after purchasing an additional 1,434 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

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.