Vita Coco (NASDAQ:COCO) Sets New 12-Month High – Time to Buy?

Shares of The Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $36.75 and last traded at $36.75, with a volume of 194 shares traded. The stock had previously closed at $35.61.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COCO. Jefferies Financial Group decreased their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Craig Hallum boosted their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Get Our Latest Stock Analysis on Vita Coco

Vita Coco Trading Down 0.3 %

The stock has a market cap of $1.99 billion, a PE ratio of 35.55, a P/E/G ratio of 2.33 and a beta of 0.22. The business has a 50 day moving average of $29.14 and a 200-day moving average of $27.65.

Vita Coco (NASDAQ:COCOGet Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In related news, COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Liran sold 27,176 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,125 shares of company stock valued at $1,484,008. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vita Coco by 21.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock valued at $9,174,000 after buying an additional 57,622 shares during the period. Intech Investment Management LLC purchased a new position in Vita Coco in the third quarter worth $256,000. Moran Wealth Management LLC lifted its holdings in Vita Coco by 43.5% in the third quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after acquiring an additional 5,517 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Vita Coco in the third quarter valued at $1,145,000. Finally, Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Vita Coco

(Get Free Report)

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.

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