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

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

Analyst Upgrades and Downgrades

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

Vita Coco Trading Up 3.7 %

The stock’s fifty day moving average is $30.27 and its 200 day moving average is $28.03. The company has a market capitalization of $2.09 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22.

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

Insider Buying and Selling

In other Vita Coco news, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the transaction, the director now owns 883,729 shares in the company, valued at $31,849,593.16. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total value of $67,342.44. Following the sale, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,425 shares of company stock valued at $1,494,523. 34.20% of the stock is owned by corporate insiders.

Institutional Trading of Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. nVerses Capital LLC raised its position in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after purchasing an additional 1,900 shares in the last quarter. CWM LLC grew its holdings in Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after buying an additional 919 shares during the last quarter. Comerica Bank raised 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 worth $98,000 after purchasing an additional 3,675 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the period. 88.49% of the stock is currently 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.