Vita Coco (NASDAQ:COCO) Sets New 1-Year High - What's Next?

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.00 and last traded at $33.00, with a volume of 10168 shares trading hands. The stock had previously closed at $30.78.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, July 10th. Piper Sandler lowered shares of Vita Coco from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Jefferies Financial Group reduced their price objective on shares of Vita Coco from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Finally, Bank of America boosted their target price on Vita Coco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.17.

Vita Coco Stock Down 4.0 %

The company has a market cap of $1.68 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The company has a fifty day simple moving average of $27.66 and a two-hundred day simple moving average of $27.01.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $144.00 million during the quarter, compared to analysts' expectations of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, research analysts predict that The Vita Coco Company, Inc. will post 1.05 EPS for the current year.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares of the company's stock, valued at approximately $3,703,932. 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 accessible through this link. Insiders sold 3,549 shares of company stock worth $106,529 in the last ninety days. Insiders own 34.20% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock valued at $9,668,000 after purchasing an additional 200,940 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new position in shares of Vita Coco during the 3rd quarter valued at about $1,010,000. US Bancorp DE lifted its holdings in shares of Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company's stock worth $424,000 after acquiring an additional 1,178 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Vita Coco by 18.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company's stock worth $1,310,000 after purchasing an additional 7,173 shares during the period. Finally, Raymond James & Associates acquired a new position in shares of Vita Coco in the 3rd quarter valued at about $3,990,000. Institutional investors and hedge funds own 88.49% of the company's stock.

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.