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

The Vita Coco Company, Inc. (NASDAQ:COCO)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $36.84 and last traded at $36.80, with a volume of 951389 shares changing hands. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of recent analyst reports. Craig Hallum boosted their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Vita Coco Stock Up 3.7 %

The stock’s fifty day simple moving average is $30.27 and its 200 day simple moving average is $28.03. The firm has a market capitalization of $2.09 billion, a PE ratio of 35.84, a PEG ratio of 2.22 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $138.56 million. During the same quarter last year, the business posted $0.26 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the sale, the director now owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now owns 452,452 shares in the company, valued at $16,220,404.20. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,425 shares of company stock valued at $1,494,523 over the last 90 days. 34.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. TT International Asset Management LTD boosted its holdings in Vita Coco by 1,643.7% in the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after acquiring an additional 170,797 shares during the period. Geode Capital Management LLC boosted its stake in shares of Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after buying an additional 101,823 shares during the last quarter. Barclays PLC boosted its stake in shares of Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after buying an additional 46,385 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Vita Coco during the 3rd quarter valued at approximately $348,000. Finally, Wellington Management Group LLP purchased a new position in shares of Vita Coco during the 3rd quarter valued at approximately $2,621,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

About Vita Coco

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.