Vita Coco (NASDAQ:COCO) Sets New 12-Month High - Still a Buy?

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COCO shares. Craig Hallum upped their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group cut their price target 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Vita Coco Price Performance

The firm's 50 day moving average price is $28.96 and its 200 day moving average price is $27.57. The stock has a market capitalization of $2.00 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.33 and a beta of 0.22.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the company posted $0.26 EPS. Vita Coco's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 1,400 shares of Vita Coco stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 121,900 shares of the company's stock, valued at approximately $3,661,876. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 4,949 shares of company stock valued at $148,585 over the last three months. Corporate insiders own 34.20% of the company's stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC bought a new stake in Vita Coco during the first quarter worth about $18,210,000. Victory Capital Management Inc. boosted its position in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock worth $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Vita Coco in the 2nd quarter worth approximately $9,859,000. Vanguard Group Inc. increased its position in Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company's stock valued at $58,032,000 after buying an additional 230,991 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock valued at $9,668,000 after buying an additional 200,940 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other 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.