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

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) hit a new 52-week high during trading on Monday . The stock traded as high as $39.43 and last traded at $39.63, with a volume of 183930 shares trading hands. The stock had previously closed at $37.54.

Analysts Set New Price Targets

A number of research firms have commented on COCO. Craig Hallum raised their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research report on Monday, January 27th. Bank of America boosted their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on shares of 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 given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.83.

Vita Coco Stock Up 4.8 %

The business has a 50 day moving average of $36.14 and a 200 day moving average of $31.45. The company has a market capitalization of $2.23 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30.

Insider Activity

In other news, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 14,836 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.61, for a total value of $557,981.96. Following the transaction, the chief operating officer now directly owns 105,417 shares in the company, valued at approximately $3,964,733.37. This represents a 12.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,100 shares of company stock worth $4,060,373. 34.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COCO. GAMMA Investing LLC raised its stake in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares during the period. Moran Wealth Management LLC raised its position in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after purchasing an additional 871 shares during the period. West Coast Financial LLC raised its position in Vita Coco by 1.2% in the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after purchasing an additional 1,109 shares during the period. US Bancorp DE lifted its stake in Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Vita Coco by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company’s stock valued at $12,009,000 after buying an additional 1,329 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.