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

The Vita Coco Company, Inc. (NASDAQ:COCO)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $38.35 and last traded at $38.32, with a volume of 270558 shares trading hands. The stock had previously closed at $37.09.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research analyst reports. Craig Hallum boosted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America boosted their target price 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. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Vita Coco Stock Up 4.0 %

The firm has a market capitalization of $2.19 billion, a P/E ratio of 38.84, a PEG ratio of 2.25 and a beta of 0.31. The business has a 50-day moving average price of $35.65 and a 200-day moving average price 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, 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 company had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. During the same quarter in the prior year, the company posted $0.26 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 1,400 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $30.04, for a total transaction 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 $3,661,876. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Corey Baker sold 2,000 shares of Vita Coco stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total value of $74,560.00. Following the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,624 shares of company stock worth $5,285,497 over the last quarter. Company insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Vita Coco in the fourth quarter valued at approximately $52,000. SG Americas Securities LLC boosted its position in Vita Coco by 94.2% in the 4th quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock valued at $875,000 after buying an additional 11,500 shares during the last quarter. West Coast Financial LLC boosted its holdings in Vita Coco by 1.2% in the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock valued at $3,390,000 after acquiring an additional 1,109 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Vita Coco by 21.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after acquiring an additional 80,128 shares during the period. 88.49% of the stock is owned by 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.