Vita Coco (NASDAQ:COCO) Hits New 52-Week High - Should You Buy?

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.99 and last traded at $35.85, with a volume of 278318 shares trading hands. The stock had previously closed at $34.61.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group dropped 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 note on Wednesday, July 24th. Bank of America upped their price target on Vita Coco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. Craig Hallum lifted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Piper Sandler lowered shares of Vita Coco from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Finally, Wells Fargo & Company boosted their target price on shares of Vita Coco from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 10th. Three investment 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, Vita Coco currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Vita Coco Stock Performance

The firm has a market cap of $2.00 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.22. The stock has a 50-day simple moving average of $28.16 and a two-hundred day simple moving average of $27.23.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share 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 firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same period last year, the firm posted $0.26 earnings per share. Vita Coco's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 905 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the sale, the chief operating officer now owns 123,300 shares of the company's stock, valued at $3,703,932. 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. Insiders have sold a total of 4,949 shares of company stock valued at $148,585 over the last ninety days. 34.20% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

A number of institutional investors have recently bought and sold shares of COCO. CWM LLC boosted its stake in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock worth $76,000 after purchasing an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock valued at $92,000 after acquiring an additional 919 shares during the period. Arizona State Retirement System increased its stake in shares of Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company's stock worth $309,000 after buying an additional 960 shares during the period. US Bancorp DE increased its holdings in shares of Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company's stock valued at $424,000 after purchasing an additional 1,178 shares during the period. Finally, nVerses Capital LLC raised 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 worth $72,000 after purchasing an additional 1,900 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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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