On September 19, 2023, financial analysts at Morgan Stanley provided their coverage on Vita Coco (NASDAQ:COCO) in a research note. The brokerage firm assigned an “equal weight” rating to the stock. Shares of COCO opened at $26.49 on Tuesday with a market capitalization of $1.50 billion.
Vita Coco has a favorable price-to-earnings ratio of 51.94 and a low beta of 0.07, which indicates lower volatility compared to the overall market. Over the past year, the company’s stock has traded between a low of $7.39 and a high of $33.29. Currently, its 50-day moving average stands at $26.91, while the 200-day moving average is $24.38.
Several hedge funds and institutional investors have recently made changes to their positions in COCO. Granahan Investment Management LLC increased its holdings in Vita Coco by 12.7% during the fourth quarter, now owning 2,440,728 shares valued at approximately $33,731,000 after purchasing an additional 275,892 shares during that period.
BlackRock Inc., one of the leading investment management firms, raised its position in Vita Coco by 12.9% during the second quarter. BlackRock Inc.’s current holdings amount to 1,997,803 shares valued at approximately $53,681,000 after acquiring an additional 228,678 shares.
Vanguard Group Inc., another major player in the investment world, increased its holdings in Vita Coco by 28.3% during the third quarter and now owns 1,321,632 shares worth $15,053,000 after acquiring an additional 2916834 shares.
William Blair Investment Management LLC also saw significant growth in its investments with Vita Cocoa rise of around 60.9%. The firm currently holds 1,196,237 shares valued at approximately $23,470,000.
Lastly, Driehaus Capital Management LLC raised its holdings in Vita Coco by 25.8% during the second quarter. The company’s current position stands at 1,117,079 shares valued at around $30,016,000 after acquiring an additional 228,953 shares.
These institutional investors collectively own 42.33% of the stock, indicating a strong belief in the future prospects of Vita Coco.
In terms of financial performance, Vita Coco recently announced its quarterly earnings data on August 2nd, 2023. The company reported earnings per share of $0.26 for the quartersurpassing the consensus estimate by $0.08. Furthermore, Vita Coco generated revenue of $139.65 million for the same period, surpassing analyst expectations of $131.40 million.
The net margin for Vita Coco currently stands at 6.26%, and the return on equity is calculated to be 20.71%. These figures suggest that the company has been able to effectively manage its profitability and generate returns for its shareholders.
Analysts predict that Vita Coco will post earnings per share (EPS) of 0.79 for the current year.
As always with investment recommendations and predictions, it is essential to conduct thorough research and analysis before making any investment decisions based on this information from Morgan Stanley or any other brokerage firm.
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Insight into Vita Coco Stock Performance: Analyst Ratings, Insider Transactions, and Ownership Stake
On September 19, 2023, various research analysts shared their insights and evaluations of Vita Coco stock. Earlier this year, Bank of America downgraded the stock from a “buy” rating to a “neutral” rating, while simultaneously increasing the price objective from $25.00 to $32.00. The Goldman Sachs Group, on the other hand, raised its price objective for Vita Coco from $27.00 to $35.00 and gave it a “buy” rating. Similarly, Piper Sandler raised their target price from $25.00 to $32.00 and labeled the company as “overweight.” Lastly, Stephens offered coverage on Vita Coco with an “equal weight” rating and set a price objective of $30.00.
Out of the eight investment analysts who have evaluated Vita Coco’s stock, three have given it a hold rating while the remaining five have issued a buy rating. According to data obtained from Bloomberg.com, there is currently a consensus among analysts that the stock holds a rating of “Moderate Buy,” with an average target price of $26.63.
Shifting focus to recent developments within the company, it was reported that CMO Jane Prior engaged in a notable transaction involving Vita Coco shares on September 14th, 2023. During this transaction, Prior sold 45,091 shares at an average price of $29.65 per share, resulting in a total value of approximately $1,336,948.15.
Following this sale, Prior’s ownership stake in the company now stands at 123,098 shares valued at approximately $3,649,855.70.
Additionally, insider Es Charles Van also conducted a stock sale on September 14th of this year by disposing of 45,315 Vita Coco shares at an average price of $29.59 per share for an estimated total value of $1,340,870.85.
After these recent transactions, the insider now directly owns 93,258 shares in Vita Coco, which amounts to a value of approximately $2,759,504.22.
These transactions were legally recorded and filed with the Securities & Exchange Commission (SEC), and the relevant documentation can be accessed through their official website.
In a separate disclosure, it was revealed that a total of 189,829 shares of Vita Coco stock had been sold by insiders over the past three months. This translates to approximately 51.10% ownership of the company’s stock currently held by insiders.
It is essential for investors and individuals seeking insight into Vita Coco’s stock performance to review these disclosed transactions as they provide further understanding regarding investment actions amongst key individuals associated with the company.
