Vita Coco (NASDAQ:COCO) Hits New 52-Week High – Time to Buy?

by · The Markets Daily

Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $55.29 and last traded at $54.24, with a volume of 154659 shares traded. The stock had previously closed at $54.56.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC began coverage on Vita Coco in a report on Wednesday, September 24th. They set a “hold” rating on the stock. Piper Sandler lifted their price target on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Evercore ISI upped their price target on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Jefferies Financial Group boosted their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

View Our Latest Research Report on Vita Coco

Vita Coco Trading Down 1.3%

The firm’s 50 day simple moving average is $46.18 and its 200-day simple moving average is $40.13. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.37.

Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The company had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. During the same quarter last year, the company earned $0.32 EPS. Vita Coco’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, Director John Zupo sold 10,000 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of the sale, the director owned 12,162 shares of the company’s stock, valued at approximately $531,722.64. This represents a 45.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 5,102 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $44.00, for a total transaction of $224,488.00. Following the completion of the transaction, the chairman directly owned 1,479,049 shares of the company’s stock, valued at $65,078,156. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 478,920 shares of company stock worth $21,651,712. Insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COCO. Invesco Ltd. boosted its position in Vita Coco by 398.5% during the first quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock worth $2,999,000 after purchasing an additional 78,229 shares during the period. Northern Trust Corp boosted its holdings in shares of Vita Coco by 3.4% during the 1st quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock worth $13,026,000 after buying an additional 13,814 shares during the period. Wellington Management Group LLP grew its stake in Vita Coco by 102.2% in the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after buying an additional 258,521 shares during the last quarter. Nuveen LLC bought a new position in Vita Coco in the 1st quarter valued at about $3,041,000. Finally, PDT Partners LLC lifted its position in Vita Coco by 133.1% during the first quarter. PDT Partners LLC now owns 64,108 shares of the company’s stock worth $1,965,000 after acquiring an additional 36,610 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

(Get Free Report)

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.

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