Vita Coco (NASDAQ:COCO) Reaches New 52-Week High – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO) reached a new 52-week high during trading on Monday . The stock traded as high as $54.41 and last traded at $53.91, with a volume of 280550 shares. The stock had previously closed at $53.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Vita Coco from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Wells Fargo & Company boosted their target price on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Jefferies Financial Group boosted their target price on shares of Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Needham & Company LLC assumed coverage on Vita Coco in a report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Evercore ISI raised their price objective on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Vita Coco Stock Performance

The business’s fifty day simple moving average is $43.20 and its 200 day simple moving average is $38.61. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The business had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. As a group, analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 25,381 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $50.29, for a total value of $1,276,410.49. Following the completion of the transaction, the director directly owned 498,341 shares in the company, valued at $25,061,568.89. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Es Charles Van sold 20,000 shares of Vita Coco stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the transaction, the insider directly owned 84,328 shares in the company, valued at approximately $4,216,400. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,802,001 shares of company stock valued at $157,046,746. 34.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in shares of Vita Coco during the third quarter valued at $1,510,000. Maven Securities LTD bought a new stake in shares of Vita Coco during the 3rd quarter valued at $1,062,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Vita Coco during the 3rd quarter valued at $62,815,000. Danske Bank A S bought a new stake in Vita Coco in the 3rd quarter valued at $776,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Vita Coco by 201.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 401,446 shares of the company’s stock worth $17,049,000 after buying an additional 268,338 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.