FY2024 EPS Estimates for The Vita Coco Company, Inc. (NASDAQ:COCO) Lifted by William Blair

The Vita Coco Company, Inc. (NASDAQ:COCO) – Stock analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Vita Coco in a research report issued on Wednesday, May 1st. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of $1.10 for the year, up from their prior forecast 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 posted its earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share.

Other analysts also recently issued research reports about the stock. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a report on Thursday, February 29th. TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Piper Sandler raised their price objective 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. Finally, The Goldman Sachs Group cut their target price 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.67.

Vita Coco Price Performance

Shares of COCO stock opened at $26.00 on Monday. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29. The firm has a market cap of $1.47 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.18. The company has a 50-day moving average of $24.92 and a two-hundred day moving average of $25.04.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction dated 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 directly owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Michael Kirban sold 2,562 shares of the business’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 transaction of $64,178.10. Following the completion of the sale, 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 can be accessed through this link. Also, Director Ira Liran sold 6,915 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 985,729 shares in the company, valued at approximately $24,643,225. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock valued at $1,309,536 over the last quarter. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Hedge funds have recently made changes to their positions in the company. Syon Capital LLC acquired a new stake in Vita Coco in the fourth quarter valued at about $113,931,000. FMR LLC boosted its stake in shares of Vita Coco by 72.3% in the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after buying an additional 1,000,408 shares in the last quarter. Vanguard Group Inc. raised its position in Vita Coco by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock worth $50,910,000 after acquiring an additional 108,844 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Vita Coco by 41.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock valued at $27,151,000 after acquiring an additional 304,659 shares during the period. Finally, abrdn plc acquired a new position in shares of Vita Coco during the 4th quarter worth $22,321,000. 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.