Vita Coco (NASDAQ:COCO) Reaches New 12-Month High – Here’s Why

The Vita Coco Company, Inc. (NASDAQ:COCO) reached a new 52-week high on Tuesday . The stock traded as high as $35.99 and last traded at $35.85, with a volume of 278318 shares changing hands. The stock had previously closed at $34.61.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COCO shares. Bank of America boosted their price target on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Jefferies Financial Group reduced their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Craig Hallum raised their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Stock Performance

The stock has a market capitalization of $2.02 billion, a PE ratio of 35.83, a P/E/G ratio of 2.26 and a beta of 0.22. The firm’s 50 day moving average is $28.56 and its two-hundred day moving average is $27.37.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. During the same quarter in the prior year, the business earned $0.26 EPS. Vita Coco’s revenue was down 3.6% on a year-over-year basis. On average, analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the sale, the chief operating officer now owns 123,300 shares in the company, valued at approximately $3,703,932. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 4,949 shares of company stock valued at $148,585. 34.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC increased its stake in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after acquiring an additional 1,900 shares during the period. CWM LLC boosted its position in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after purchasing an additional 787 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after purchasing an additional 919 shares during the period. Comerica Bank increased its holdings in shares of Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares during the period. Hedge funds and other institutional investors 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.