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

The Vita Coco Company, Inc. (NASDAQ:COCO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.29 and last traded at $37.13, with a volume of 180024 shares changing hands. The stock had previously closed at $36.35.

Analyst Ratings Changes

Several brokerages have recently weighed in on COCO. Bank of America upped their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Craig Hallum upped their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Vita Coco Stock Performance

The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.37 and a beta of 0.31. The stock’s 50 day simple moving average is $32.62 and its 200-day simple moving average is $29.04.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the business posted $0.26 EPS. Vita Coco’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the sale, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. This represents a 1.77 % 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, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $35.98, for a total transaction of $179,900.00. Following the completion of the sale, the chief executive officer now owns 372,152 shares in the company, valued at $13,390,028.96. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,951 shares of company stock worth $3,201,769. 34.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC lifted its holdings in Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after purchasing an additional 1,900 shares in the last quarter. CWM LLC lifted its stake in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares in the last quarter. Comerica Bank lifted its stake in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after buying an additional 3,675 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Vita Coco in the second quarter worth about $141,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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.