Vita Coco (NASDAQ:COCO) Sets New 52-Week High – Should You Buy?

by · The Cerbat Gem

Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $55.53 and last traded at $55.0650, with a volume of 318162 shares traded. The stock had previously closed at $51.99.

Analysts Set New Price Targets

Several research analysts have weighed in on COCO shares. Evercore ISI upped their price target on Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Wells Fargo & Company raised their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price target on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Piper Sandler increased their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.50.

View Our Latest Analysis on Vita Coco

Vita Coco Stock Down 0.4%

The company has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $42.29. The company has a market capitalization of $3.13 billion, a P/E ratio of 47.80, a PEG ratio of 1.54 and a beta of 0.38.

Vita Coco (NASDAQ:COCOGet Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The firm had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, Chairman Michael Kirban sold 30,000 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $45.70, for a total value of $1,371,000.00. Following the sale, the chairman owned 1,499,049 shares of the company’s stock, valued at approximately $68,506,539.30. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Liran sold 40,000 shares of Vita Coco stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $45.58, for a total transaction of $1,823,200.00. Following the transaction, the director directly owned 558,341 shares of the company’s stock, valued at approximately $25,449,182.78. This represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 349,153 shares of company stock valued at $16,297,267. Insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Vita Coco in the 3rd quarter worth $821,000. Capital Fund Management S.A. bought a new stake in shares of Vita Coco in the second quarter valued at about $1,049,000. SG Americas Securities LLC bought a new stake in shares of Vita Coco in the second quarter valued at about $372,000. Baird Financial Group Inc. lifted its stake in Vita Coco by 32.4% in the second quarter. Baird Financial Group Inc. now owns 130,318 shares of the company’s stock worth $4,704,000 after acquiring an additional 31,902 shares during the period. Finally, Strs Ohio bought a new position in Vita Coco during the 1st quarter worth about $432,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Company Profile

(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.

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