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

by · The Markets Daily

Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.84 and last traded at $56.5370, with a volume of 51559 shares changing hands. The stock had previously closed at $55.73.

Wall Street Analyst Weigh In

COCO has been the subject of several research analyst reports. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Morgan Stanley boosted their price objective on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Piper Sandler raised their target price on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. The Goldman Sachs Group lifted their price target on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Wall Street Zen raised Vita Coco from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.50.

View Our Latest Research Report on COCO

Vita Coco Price Performance

The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 1.63 and a beta of 0.38. The firm has a fifty day moving average of $53.81 and a 200 day moving average of $44.59.

Insider Activity

In other Vita Coco news, insider Es Charles Van sold 20,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the insider owned 84,328 shares of the company’s stock, valued at $4,216,400. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Zupo sold 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of the transaction, the director directly owned 12,162 shares in the company, valued at approximately $531,722.64. This trade represents a 45.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 161,421 shares of company stock worth $8,009,791. Insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares in the last quarter. CWM LLC lifted its position in Vita Coco by 18.2% in the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC lifted its position in Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after acquiring an additional 236 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after acquiring an additional 298 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Vita Coco by 3.2% during the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after purchasing an additional 376 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

About Vita Coco

(Get Free Report)

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

Featured Articles