Vita Coco (NASDAQ:COCO) Sets New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group lowered their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Trading Down 0.3 %

The business has a 50 day moving average of $29.14 and a 200-day moving average of $27.65. The stock has a market cap of $1.99 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 2.33 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last issued 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 business had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. On average, equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now owns 452,452 shares of the company’s stock, valued at $16,220,404.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction 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 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 at the SEC website. Also, Director Ira Liran sold 27,176 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the transaction, the director now owns 883,729 shares in the company, valued at $31,849,593.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,125 shares of company stock valued at $1,484,008 in the last ninety days. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its holdings in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC boosted its holdings in Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after acquiring an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Vita Coco by 32.3% during the first 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. Comerica Bank increased its stake in Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after acquiring an additional 3,675 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the period. 88.49% of the stock is 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.