Vita Coco (COCO) Set to Announce Earnings on Wednesday

Vita Coco (NASDAQ:COCO) is set to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect Vita Coco to post earnings of $0.19 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $99.63 million. During the same quarter in the previous year, the company earned $0.04 EPS. Vita Coco’s revenue was up 15.3% on a year-over-year basis. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $25.09 on Tuesday. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $33.29. The firm has a market capitalization of $1.42 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.98 and a beta of 0.16. The company’s 50 day simple moving average is $24.40 and its 200 day simple moving average is $25.02.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on COCO shares. Piper Sandler raised their price target on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Thursday, February 29th. The Goldman Sachs Group reduced their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. Finally, William Blair cut shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $29.71.

Insider Buying and Selling at Vita Coco

In related news, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares in the company, valued at $16,418,639.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Liran sold 2,780 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.04, for a total transaction of $69,611.20. Following the transaction, the director now directly owns 992,644 shares of the company’s stock, valued at $24,855,805.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,353 shares of company stock valued at $1,309,536. 51.10% of the stock is currently owned by corporate insiders.

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.