William Blair Equities Analysts Lift Earnings Estimates for The Vita Coco Company, Inc. (NASDAQ:COCO)

The Vita Coco Company, Inc. (NASDAQ:COCO) – Research analysts at William Blair lifted their FY2024 earnings estimates for shares of Vita Coco in a research report issued on Wednesday, May 1st. William Blair analyst J. Andersen now anticipates that the company will post earnings of $1.10 per share for the year, up from their previous estimate of $0.97. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Vita Coco’s current full-year earnings is $1.02 per share.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm had revenue of $112.00 million during the quarter, compared to analyst estimates of $111.72 million. During the same period in the previous year, the company earned $0.12 earnings per share. Vita Coco’s quarterly revenue was up 2.0% on a year-over-year basis.

Several other analysts have also weighed in on COCO. Piper Sandler boosted their target price on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group lowered their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, February 29th. Finally, TheStreet lowered Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Vita Coco Trading Down 1.4 %

Shares of NASDAQ COCO opened at $26.00 on Monday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.18. Vita Coco has a twelve month low of $19.41 and a twelve month high of $33.29. The business has a 50 day simple moving average of $24.92 and a 200-day simple moving average of $25.04.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the transaction, the chairman now owns 640,348 shares in the company, valued at approximately $16,040,717.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Liran sold 6,915 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the transaction, the director now directly owns 985,729 shares of the company’s stock, valued at approximately $24,643,225. The disclosure for this sale can be found here. Insiders sold 52,353 shares of company stock valued at $1,309,536 in the last ninety days. Company insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of institutional investors have recently made changes to their positions in COCO. Swiss National Bank raised its holdings in Vita Coco by 19.1% during the first quarter. Swiss National Bank now owns 72,900 shares of the company’s stock worth $1,781,000 after purchasing an additional 11,700 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Vita Coco in the first quarter valued at $1,028,000. Principal Financial Group Inc. lifted its holdings in shares of Vita Coco by 31.0% in the first quarter. Principal Financial Group Inc. now owns 31,004 shares of the company’s stock valued at $757,000 after buying an additional 7,330 shares during the period. New York State Teachers Retirement System bought a new position in Vita Coco during the first quarter valued at about $63,000. Finally, Simplicity Wealth LLC bought a new stake in Vita Coco in the first quarter worth about $367,000. 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.