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

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $39.43 and last traded at $39.63, with a volume of 183930 shares trading hands. The stock had previously closed at $37.54.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research reports. Stephens downgraded Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target for the company. in a research note on Monday, January 27th. Wells Fargo & Company increased their target price on shares of Vita Coco from $33.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Craig Hallum lifted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Bank of America upped their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.83.

Vita Coco Trading Up 0.7 %

The firm has a market cap of $2.27 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30. The stock has a fifty day simple moving average of $36.36 and a two-hundred day simple moving average of $31.77.

Insider Activity at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.07, for a total value of $175,350.00. Following the completion of the transaction, the chief executive officer now directly owns 437,152 shares of the company's stock, valued at $15,330,920.64. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 30,000 shares of the company's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the transaction, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,800 shares of company stock valued at $4,049,858. Corporate insiders own 34.20% of the company's stock.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of COCO. The Manufacturers Life Insurance Company increased its position in shares of Vita Coco by 29.0% in the second quarter. The Manufacturers Life Insurance Company now owns 22,392 shares of the company's stock worth $624,000 after purchasing an additional 5,038 shares during the last quarter. SG Americas Securities LLC purchased a new position in Vita Coco in the 3rd quarter worth approximately $346,000. Raymond James & Associates bought a new position in shares of Vita Coco in the 3rd quarter worth $3,990,000. Allspring Global Investments Holdings LLC raised its position in shares of Vita Coco by 18.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company's stock valued at $1,310,000 after buying an additional 7,173 shares in the last quarter. Finally, 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 last quarter. Hedge funds and other institutional investors 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.