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 hit a new 52-week high on Friday . The company traded as high as $38.35 and last traded at $38.32, with a volume of 270558 shares traded. The stock had previously closed at $37.09.

Wall Street Analysts Forecast Growth

COCO has been the subject of several recent research reports. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price target on Vita Coco from $33.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.14.

Vita Coco Trading Up 4.2 %

The company's fifty day simple moving average is $35.81 and its 200 day simple moving average is $30.74. The stock has a market capitalization of $2.19 billion, a P/E ratio of 39.04, a P/E/G ratio of 2.25 and a beta of 0.31.

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

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 1,400 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $30.04, for a total transaction of $42,056.00. Following the transaction, the chief operating officer now directly owns 121,900 shares in the company, valued at approximately $3,661,876. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martin F. Roper sold 5,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the sale, the chief executive officer now owns 452,452 shares of the company's stock, valued at $16,220,404.20. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,676 shares of company stock valued at $5,437,852. 34.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in shares of Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock valued at $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP purchased a new stake in Vita Coco during the third quarter valued at about $19,224,000. Victory Capital Management Inc. grew its stake in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after buying an additional 461,748 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Vita Coco in the second quarter worth about $9,859,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock valued at $9,668,000 after acquiring an additional 200,940 shares during the last quarter. 88.49% of the stock is currently owned by 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.