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

The Vita Coco Company, Inc. (NASDAQ:COCO) reached 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

A number of equities analysts recently commented on the company. Bank of America increased their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum increased their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

Vita Coco Price Performance

The business has a fifty day simple moving average of $35.81 and a 200 day simple moving average of $30.74. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.25 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last announced its 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. The business had revenue of $133.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at $16,220,404.20. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total value of $74,560.00. Following the transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,676 shares of company stock worth $5,437,852. Company insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 360 shares in the last quarter. West Coast Financial LLC raised its stake in Vita Coco by 1.2% in the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock valued at $3,390,000 after buying an additional 1,109 shares in the last quarter. US Bancorp DE raised its stake in 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 buying an additional 1,178 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco in the fourth quarter valued at $52,000. Finally, Captrust Financial Advisors raised its stake in Vita Coco by 7.2% in the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock valued at $603,000 after buying an additional 1,433 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.