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

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

Analyst Upgrades and Downgrades

Separately, Craig Hallum boosted their target price 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 assigned a buy rating to the stock. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Vita Coco Stock Performance

The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.31 and a beta of 0.31. The business has a 50 day simple moving average of $31.86 and a 200-day simple moving average of $28.69.

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

Insider Transactions at Vita Coco

In related news, CMO Jane Prior sold 3,888 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $37.01, for a total transaction of $143,894.88. Following the transaction, the chief marketing officer now directly owns 131,834 shares in the company, valued at approximately $4,879,176.34. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of the firm’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 completion of the transaction, the chief operating officer now owns 124,605 shares in the company, valued at approximately $3,739,396.05. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,313 shares of company stock valued at $2,349,018. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently bought and sold shares of the business. TT International Asset Management LTD raised its stake in Vita Coco by 1,643.7% during the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after acquiring an additional 170,797 shares in the last quarter. Geode Capital Management LLC boosted its position in Vita Coco by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after purchasing an additional 101,823 shares during the last quarter. Barclays PLC lifted its position in shares of Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after buying an additional 46,385 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Vita Coco in the third quarter worth about $348,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Vita Coco in the third quarter worth about $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.