Vita Coco (NASDAQ:COCO) Stock Price Up 5.5% – What’s Next?
by Tristan Rich · The Markets DailyVita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) shares rose 5.5% on Monday . The stock traded as high as $55.02 and last traded at $54.8550. Approximately 254,490 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,187,612 shares. The stock had previously closed at $52.01.
Analysts Set New Price Targets
A number of research analysts recently weighed in on COCO shares. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Evercore raised their target price on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.86.
Get Our Latest Report on Vita Coco
Vita Coco Stock Up 7.4%
The firm has a market capitalization of $3.21 billion, a P/E ratio of 30.59, a PEG ratio of 0.99 and a beta of 0.75. The business’s 50-day simple moving average is $64.78 and its 200 day simple moving average is $64.18.
Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $216.15 million during the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts predict that Vita Coco Company, Inc. will post 1.95 earnings per share for the current year.
Insider Activity
In other news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.90% of the company’s stock.
Hedge Funds Weigh In On Vita Coco
Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the period. Quarry LP boosted its position in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares during the period. IFP Advisors Inc boosted its position in Vita Coco by 210.4% during the 2nd quarter. IFP Advisors Inc now owns 689 shares of the company’s stock valued at $46,000 after buying an additional 467 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after acquiring an additional 958 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.
About Vita Coco
The Vita Coco Company, Inc is a beverage company focused on better-for-you hydration products. Its flagship Vita Coco brand offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional hydration products, such as protein and electrolyte beverages, through its broader brand portfolio.
Founded in 2004 by Michael Kirban and Ira Liran, Vita Coco helped popularize coconut water in the United States. The company sells its products through grocery stores, mass retailers, convenience stores, club stores, e-commerce platforms and other retail channels.