Vita Coco (NASDAQ:COCO) Reaches New 1-Year High – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $56.46 and last traded at $55.65, with a volume of 581897 shares trading hands. The stock had previously closed at $54.97.

Analyst Ratings Changes

A number of research analysts recently commented on COCO shares. Piper Sandler upped their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Needham & Company LLC began coverage on Vita Coco in a report on Wednesday, September 24th. They set a “hold” rating for the company. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Wells Fargo & Company upped their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Vita Coco Stock Up 1.2%

The company’s 50-day moving average price is $50.85 and its 200-day moving average price is $42.65. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.56 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The business’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, insider Es Charles Van sold 20,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the sale, the insider owned 84,328 shares in the company, valued at $4,216,400. This represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $51.62, for a total value of $201,318.00. Following the completion of the sale, the director directly owned 612,166 shares in the company, valued at $31,600,008.92. This represents a 0.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 349,153 shares of company stock valued at $16,297,267. Insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares during the last quarter. Mariner LLC lifted its position in shares of Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after purchasing an additional 236 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after purchasing an additional 298 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Vita Coco by 3.2% during the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after purchasing an additional 376 shares in the last quarter. Finally, Cim LLC increased its holdings in Vita Coco by 3.8% in the second quarter. Cim LLC now owns 13,904 shares of the company’s stock valued at $502,000 after buying an additional 514 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.