Vita Coco (NASDAQ:COCO) Trading Up 5.1% – Should You Buy?

The Vita Coco Company, Inc. (NASDAQ:COCO)’s share price rose 5.1% on Monday . The company traded as high as $34.35 and last traded at $33.60. Approximately 223,289 shares were traded during trading, a decline of 64% from the average daily volume of 617,779 shares. The stock had previously closed at $31.97.

Wall Street Analyst Weigh In

COCO has been the topic of a number of recent research reports. Jefferies Financial Group dropped their target price 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 lifted 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. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Bank of America boosted their target price on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price target on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Vita Coco Trading Up 1.9 %

The firm has a 50 day moving average of $28.35 and a two-hundred day moving average of $27.32. The stock has a market capitalization of $2.00 billion, a PE ratio of 35.63, a P/E/G ratio of 2.49 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million during 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 quarter in the previous year, the company posted $0.26 EPS. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Activity

In related news, COO Jonathan Burth sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the sale, the chief operating officer now owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 4,949 shares of company stock worth $148,585 over the last ninety days. 34.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COCO. Victory Capital Management Inc. grew its holdings 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 worth $25,358,000 after buying an additional 461,748 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after acquiring an additional 200,940 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in Vita Coco in the 3rd quarter worth approximately $1,010,000. US Bancorp DE raised its holdings in Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock valued at $424,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake 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 worth $1,310,000 after purchasing an additional 7,173 shares during the period. Institutional investors and hedge funds 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.