Vita Coco (NASDAQ:COCO) Sets New 1-Year High – Still a Buy?

The Vita Coco Company, Inc. (NASDAQ:COCO) shares reached a new 52-week high on Friday . The stock traded as high as $38.35 and last traded at $38.32, with a volume of 270558 shares traded. The stock had previously closed at $37.09.

Analysts Set New Price Targets

Several equities analysts have recently commented on COCO shares. Wells Fargo & Company upped their target price on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.14.

Vita Coco Stock Performance

The stock has a market capitalization of $2.19 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 2.25 and a beta of 0.31. The business has a 50 day simple moving average of $35.65 and a 200-day simple moving average of $30.60.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now owns 853,729 shares in the company, valued at $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jonathan Burth sold 1,400 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $30.04, for a total value of $42,056.00. Following the completion of the transaction, the chief operating officer now directly owns 121,900 shares in the company, valued at approximately $3,661,876. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,624 shares of company stock worth $5,285,497. 34.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco in the fourth quarter valued at approximately $52,000. SG Americas Securities LLC boosted its holdings in Vita Coco by 94.2% in the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock worth $875,000 after purchasing an additional 11,500 shares in the last quarter. West Coast Financial LLC increased its position in Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after buying an additional 1,109 shares during the last quarter. GAMMA Investing LLC raised its holdings in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 360 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Vita Coco by 21.1% in the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after buying an additional 80,128 shares during the last quarter. Institutional investors 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.