Vita Coco (NASDAQ:COCO) Reaches New 12-Month High – What’s Next?

The Vita Coco Company, Inc. (NASDAQ:COCO)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $37.20 and last traded at $36.98, with a volume of 171361 shares changing hands. The stock had previously closed at $35.75.

Wall Street Analyst Weigh In

Separately, Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Vita Coco Price Performance

The stock has a market cap of $2.08 billion, a P/E ratio of 36.11, a PEG ratio of 2.31 and a beta of 0.31. The business’s 50 day simple moving average is $31.86 and its 200 day simple moving average is $28.69.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. During the same period last year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now directly owns 124,605 shares in the company, valued at approximately $3,739,396.05. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,313 shares of company stock valued at $2,349,018 in the last quarter. Insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of Vita Coco during the 1st quarter valued at about $263,000. Janus Henderson Group PLC boosted its holdings in shares of Vita Coco by 126.9% during the 1st quarter. Janus Henderson Group PLC now owns 30,131 shares of the company’s stock valued at $736,000 after acquiring an additional 16,854 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Vita Coco in the first quarter worth approximately $305,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Vita Coco by 14.3% in the first quarter. California State Teachers Retirement System now owns 37,001 shares of the company’s stock worth $904,000 after buying an additional 4,634 shares during the last quarter. 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.