Vita Coco (NASDAQ:COCO) Reaches New 1-Year High – Still a Buy?

The Vita Coco Company, Inc. (NASDAQ:COCO)’s share price reached a new 52-week high on Monday . The stock traded as high as $39.43 and last traded at $39.63, with a volume of 183930 shares traded. The stock had previously closed at $37.54.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COCO. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a report on Monday, January 27th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their price target on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Vita Coco Stock Performance

The company’s 50 day simple moving average is $36.22 and its two-hundred day simple moving average is $31.61. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 912 shares of Vita Coco stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.53, for a total value of $34,227.36. Following the completion of the sale, the chief operating officer now directly owns 104,108 shares in the company, valued at $3,907,173.24. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,653,218.88. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,800 shares of company stock worth $4,049,858. Corporate insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Vita Coco by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock valued at $95,565,000 after acquiring an additional 11,712 shares during the last quarter. Wasatch Advisors LP boosted its position in Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after purchasing an additional 1,799,168 shares during the period. Geode Capital Management LLC grew its holdings in Vita Coco by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after purchasing an additional 101,823 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Finally, State Street Corp raised its position in shares of Vita Coco by 4.7% in the third quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after purchasing an additional 39,431 shares during the period. 88.49% of the stock is currently owned by institutional investors.

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.